GAME looks to buy up 45 HMV stores

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January 18th, 2013, 23:13 Posted By: wraggster

Retail group OpCapita has approached administrators Deloitte about the possible acquisition of a number of HMV’s stores.
It appears OpCapita, the company that now owns GAME, is targeting between 40-45 stores.
Game Retail chief executive Martyn Gibbs told The Financial Times: “We will constantly review our property portfolio based on what is available. I would not rule out any stores that are becoming available, be that through an administration or normal property deals.”
Although Game Retail has not released any numbers for its Christmas trading, Gibbs claims they were ‘ahead of expectations’ and the retailer is confident it can hit its £20m annual earnings target by July.
HMV announced on January 15th that it was entering administration after its directors faced the realisation that the chain 'wasn't going to be able to reach a point where it could continue to trade'.
Less than a year ago, GAME was in a similar situation to the one HMV is in now, and after filing for administration, was saved by retail group OpCapita.
http://www.pcr-online.biz/news/read/...-stores/030035

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