While the UK branch of troubled outlet GAME has narrowly avoided administration, the Australian branch is still seeking a buyer.
Private investment firm OpCapita, which specialises in turnaround operations in the retail sector, has saved GAME UK from administration as part of an agreement that GAME’s UK operations will be sold to OpCapita’s Baker Acquisitions — keeping all stores open. GAME Australia, however, have still yet to determine their fate.
While the Australian branch still continues to trade as usual, the deal with OpCapita only applies to GAME UK. According to Game’s latest financial report, the Australian division recorded turnover of $33 million.
With GAME still in murky waters and Australian retailer Dick Smith abandoning the video game market this week, could this be the beginning of the end for brick and mortar game retailers?
