Less than two years after it nearly vanished altogether, GAME could be ready to re-join the stock market.
Sky News reports that Game Retail will this week finalise plans for a £300m flotation by appointing HSBC, Canaccord Genuity and Liberum Securities to co-ordinate an initial public offering scheduled to take place later this year.
GAME earlier today revealed the extent of its Christmas success, with like-for-like sales up 90 per cent year-on-year for the six weeks ending January 4th.
Sky quotes a source close to GAME as stating: “The chain really outperformed the market, which should provide a solid platform for it to go public."
It also estimates that 2013 profits reached over £30m – more than the £20m estimated by chief executive Martyn Gibbs last May.
"There was a significant risk when the business was pulled out of administration. I think we get caught up in the percentages of a business that was being saved," Gibbs previously said in response to criticism aimed at Game Retail owners OpCapita.
“But it wasn’t a business that was guaranteed a future at that moment in time. So we are comfortable the business can work with those payments and continue to build the business.”