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Old 2nd Apr 2012, 12:23   #1
brumgrunt
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GAME Group saved by a £1 buyout

A deal valued at just £1 has saved GAME Group from the financial wrecker's yard.

http://www.bit-tech.net/news/gaming/...-group-saved/1
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Old 2nd Apr 2012, 13:08   #2
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£1? They were robbed.
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Old 2nd Apr 2012, 13:14   #3
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If they're in debut it would be worth it.

I know alot of the stores that are closed have stock in them, get this stuff sold and restructure, I'd rather see just 1 store instead of a Game and Gamestation right near each other competing.

I would be sad to see these stores disappear completely, was in my town centre other day and was gutted my Gamestaion was closed, it's part of my reasoning for shopping with the Mrs
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Old 2nd Apr 2012, 13:29   #4
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they should be able to turn a nice tidy little profit from the Game shops. They just need some proper management. Have one (1) Game store in the cities. Not 3 close to each other. And focus a bit on peripherals too. My local game only has those rubbish MMO keyboard with interchangeable WASD keys -.-'
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Old 2nd Apr 2012, 14:20   #5
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If PwC did it correctly, the group will have shed their unprofitable shops (ie: those with high fixed costs, or those stealing sales from another shop over the road) and hence a return to profit isn't that far-fetched. The UK gaming market is still worth a lot of cash, and GAME's turnover is pretty high, they just didn't deal with multiple stores properly.

It's sad for those that lost their jobs, but equally others have kept theirs and stand a good chance of doing so in the future.
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Old 2nd Apr 2012, 14:34   #6
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£1? It's that £1 *million*?
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Old 2nd Apr 2012, 14:47   #7
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Quote:
Originally Posted by Dedlite View Post
£1? It's that £1 *million*?
No, just one hundred pennies. Bear in mind that GAME is around £100 million in debt, so OpCapita is really on the hook for £100,000,001. It did something similar with Comet - except it paid £2 instead of £1 for that acquisition.
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Old 2nd Apr 2012, 14:47   #8
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1£ .. damn, why didnt I buy it !
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Old 2nd Apr 2012, 14:55   #9
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Hope they got their reward points for it...
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Old 2nd Apr 2012, 14:57   #10
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I just hope it's a rumour about the plan to hire back some of the head office staff since they were the ones that made the bad decisions; might as well promote from remaining management that aren't from the old regime.
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Old 2nd Apr 2012, 15:12   #11
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I remember growing up with independent game stores, owned and facilitated by enthusiastic shopkeepers. At that time there wasnít any Games or Gamestop, you could get a really good deal on your gaming collections that you wanted to get traded in, swapped or sold off as second hand item.

These smaller independent gaming stores got bullied out of the market by these over the top bloodsucking-money-grabbing, Cancer Companyís like Games and GameStop.

Back then there was a smaller second hand market for people that enjoyed gaming for what it was. Going main-stream, changed all thatÖ and now these huge multi-billion corporations are going bust, and to be brutally honest! I couldnít be happier about it!

Less capitalism in this world makes the world a better place.
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Old 2nd Apr 2012, 15:52   #12
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Did anyone see the big Tesco advert in the Metro the other day? "Tesco - the home of gaming".

It basically just advertised everything Game did, including trade-ins and second hand sales. It'll be interesting to see how that one pans out.
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Old 2nd Apr 2012, 16:17   #13
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If we're talking about non-specialist trade-ins, I'd rather give Argos a go as they've had good flash deals in the past like Halo 3 down to a tenner long before it went to classics, with Nectar points reducing it even further.

Tesco would have to be selling a non-food item I actually wanted for me to give them a try if they give you store credit to spend on whatever. Their loyalty scheme is already generous enough without giving them my games as well.
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Old 2nd Apr 2012, 16:46   #14
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1£ .. damn, why didnt I buy it !
I'll sell you £100million of my debt if you're in the market for some. Just sign on the dotted line (and give me a week to amass the debts).
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Old 2nd Apr 2012, 17:49   #15
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Funny old world isn't it ? Back in the 70's I loved going into the Comet head office/showroom in Hull, my pal was an accountant for the owners who made an absolute fortune....

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Old 2nd Apr 2012, 19:58   #16
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Fewer stores, better upper management who aren't just yes men willing to adapt to changes, let some of the staff who are keen gamers with good suggestions to boost sales have a go at trying ideas out & game could be awesome with all their stores having something unique rather than a bunch of clones, lets hope they evolve else they are doomed if they stay with old ways.

And do something good for a PC section or don't bother with a pc section.
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Old 2nd Apr 2012, 21:09   #17
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Quote:
Originally Posted by amirkomet
I remember growing up with independent game stores, owned and facilitated by enthusiastic shopkeepers. At that time there wasn’t any Games or Gamestop, you could get a really good deal on your gaming collections that you wanted to get traded in, swapped or sold off as second hand item.

These smaller independent gaming stores got bullied out of the market by these over the top bloodsucking-money-grabbing, Cancer Company’s like Games and GameStop.

Back then there was a smaller second hand market for people that enjoyed gaming for what it was. Going main-stream, changed all that… and now these huge multi-billion corporations are going bust, and to be brutally honest! I couldn’t be happier about it!

Less capitalism in this world makes the world a better place.
THIS!
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Old 2nd Apr 2012, 21:35   #18
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When I was a regular retail shopper I always chose the independent stores with proper gamers running a small business over places like game, they aren't salesmen, just gamers making a business out of it so could get good advice on any games I weren't sure about & they never try pushing crap you don't need on you which developed respect for the shops which makes you keep going back for more, something upper management of game do not understand the value of.
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Old 2nd Apr 2012, 22:26   #19
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So they bought for £100,000,001 in reality.
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Old 2nd Apr 2012, 22:32   #20
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Since the news about GAME being bought out came yesterday, I just assumed it was yet another April Fool's joke. I still don't know that it isn't.
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