On Sunday a deal was struck to buy what was left of GAME's 333 UK stores and Gamestation outlets. Out of the three names said to be interested in the buy Baker Acquisitions Limited, an entity advised by private investment company OpCapita, has picked up GAME's UK assets.
The group confirmed that there would be no more closures of stores, but has inherited GAME's 85 million debt owed to GAME Group's syndicate of lenders, led by The Royal Bank of Scotland, after paying what has been reported the sum of £1 for the company
Yesterday after naming Martyn Gibbs, former managing director of Gamestation GAME's new CEO, the group has asked to be de-listed from the stock exchange issuing the following statement
"Further to the announcement of 21 March 2012 and the appointment of PWC LLP as administrators for the Group on 26 March 2012, GAME Group plc has today applied for the listing of its securities to be cancelled from the Official List and for the admission to trading of its securities to be cancelled from the Main Market of London Stock Exchange plc with effect from 3 April 2012, pursuant to LR 5.2.12(2)."
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