Tag Archives: opcapita

OFFICIAL: GAME UK exits administration

Retailer GAME has announced its exit from administration following a successful bid by Comet owners OpCapita. Private investment firm OpCapita has secured a sale of GAME’s UK assets to Baker Acquisitions Limited. Under the terms of the deal Baker has bought the UK arm of GAME Group out of administration …

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GAME is saved as deal is agreed

A deal has been agreed that has tonight seen GAME exit administration, MCV believes. Former front-runner turned write-off OpCapita has in a surprise development emerged as the victor, with its re-jigged offer for the trimmed-down GAME offsetting the doubts that saw its original approach shunned by lenders. OpCapita has reportedly …

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OpCapita winning eleventh hour deal to buy GAME UK, says Telegraph

Investment firm OpCapita WILL be the new owner of the UK GAME stores, according to the Telegraph. A report this evening from the national newspaper says that discussions this weekend has put the firm back in the lead to be the owner of the chain. OpCapital tabled a bid for …

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Report: New GAME bid from OpCapita; GameStop moves for overseas stores

Despite news this morning that a deal to take GAME out of administration is now very close, a new report suggests OpCapita has not yet given up hope. The Independent reports that OpCapita has tabled a fresh bid to acquire GAME’s remaining 333 UK stores. In addition, it also believes …

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Who, if anyone, will buy GAME?

Leading financial and retail experts are all eyeing up a move for GAME Group. But as-of-yet only one has made a firm offer. Some GAME rivals have even readied funds in preparation of a possible administration – with the firm’s 19.4m loyalty card database and GAME.co.uk domain amongst the targets. …

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OpCapita takeover of GAME all but ruled out

A source close to Comet owner OpCapita has revealed to MCV that a deal to takeover GAME is now very unlikely. GAME this morning filed for administration and is understood to be preparing to re-launch in a slimmed-down guise under an amended management team. That’s despite the fact that OpCapita …

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RBS urged to act before GAME slips into oblivion

A source close to OpCapita has told MCV that chief lender RBS must act fast to save GAME before it slips into administration at the weekend. OpCapita, which owns UK retailer Comet, is understood to have the cash ready and in place to repay GAME Group’s debts. In addition, it …

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Lenders shun OpCapita’s GAME rescue bid

It appears that GAME’s chief lenders have thrust the retailer back toward the brink of administration by rejecting the offer tabled by Comet owner OpCapita. The Guardian reports that OpCapita’s plan to settle debts with chief lenders such as The Royal Bank of Scotland, as well as 40m worth of …

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OpCapita’s Comet to cut 1,000 jobs

OpCapita, the company that has tabled an offer to pay off GAME’s lenders, has put 1,000 Comet staff on notice of losing their jobs. That represents about 30 per cent of the workforce, The Sun reports. OpCapita has already cut 450 engineer positions and put hundreds” of call centre staff …

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Analyst questions OpCapita motivations

With a firm offer from OpCapita to acquire GAME Group understood to be on the table, one analyst has questioned the motivations behind the potential deal. Highlighting the fact that HMV is lucky to have decent assets to sell” and suppliers that have rallied around them”, independent analyst Nick Bubb …

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