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GAME Wanting To Buy HMV Stores

That's going to be a lot of copies of FIFA.

According to the Financial Times (via EG) GAME are looking to buy up to 45 HMV stores. The report says that GAME’s boss Martyn Gibbs (and not OpCapita) has approached HVM’s administrators Deloitte with respect to picking up HMV stores where there currently isn’t a GAME store.

“We will constantly review our property portfolio based on what is available,” said Gibbs. “I would not rule out any stores becoming available, be that through an administration or normal property deals.”

Last year GAME went into administration and countless stores were closed and even more staff lost their jobs. To hear that the company, which was rescued by OpCapita, is looking to open more stores must be gutting for those still left reeling from the GAME fallout.

GAME has tried to change its ways, with decent sales on newish titles, more focus on digital downloads and plenty of pre-release playtime for those dedicated enough to be up at all hours.

HMV’s administrators Deloitte says they have received around 50 expressions of interest, aside from GAME, showing that there’s a lot of people keen on the big name high street brand. Meanwhile, HMV itself still thinks it will survive administration and is hopeful a buyer is just around the corner.

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11 Comments
  1. cc_star
    Team TSA: Writer
    Since: Forever

    I would have thought they’d be a lot of overlap in the stores the 50 interested parties want.

    GAME’s owners, Op Capita, are facing a Government investigation over the collapse of Comet… something it looks like they made a fortune out of

    I think HMV will be saved, just a in a smaller form than it is currently, HMV sells a third of all DVD/Blu-rays in the UK and about 40% of all CDs – it has around 100m footfall too, it will be very easy for someone to make money out of that, once they’ve shed all the under-performing stores & staff.

    People talk about the death of the High St, HMV just made bad decisions, it chronically under-invested in online, it diversified to consumer electronics at a time that consumer electronics was failing in physical stores, it diversified into gaming at a time gaming was in decline, they expanded into too many non-profitable areas and built up lots of debt during expansion & their debt was a constant drag on any minor successes they may have had, their downfall was all their own doing.

    A change of top management will sort it out, it should be very difficult to fail when 40% of the UK population show buying intent by taking the trouble to walk into your stores every year.

    Comment posted on 18/01/2013 at 10:38.
    • trollmonster
      Member
      Since: Jan 2010

      I agree. HMV and Blockbusters chose not to move in to the digital age early enough (or at all) and couldn’t keep up with itunes, lovefilm and the likes. Just poor business decisions.

      Comment posted on 18/01/2013 at 11:23.
  2. kjkg
    Member
    Since: Apr 2010

    I actually would have thought there was some ruling regarding this involving businesses that have gone into administration. Obviously not.

    CC is right though, the interested parties will all be interested in the same stores. In Glasgow, I can think of Sauchiehall Street (Game is 2 doors down I believe). Silverburn (Game is 3-4 doors down) and Braehead (Game is a 2 minute walk at snails pace).

    Don’t see them buying those 3 fairly large stores over any time soon.

    Comment posted on 18/01/2013 at 10:48.
    • jeccross
      Member
      Since: Feb 2012

      Lol, why? A rule stopping companies that had been in administration making profitable (at least in their opinion) business decisions?

      Highly unlikely they are going to want stores in the areas they closed their own ones.

      Comment posted on 18/01/2013 at 12:11.
      • kjkg
        Member
        Since: Apr 2010

        No I know it might come across as stupid. I think I was just thinking that there might be some steps to stop this if they still owe creditors. Then again, maybe GAME have paid all their debts. I’m not sure.

        Comment posted on 18/01/2013 at 12:36.
  3. Bilbo_bobbins
    Member
    Since: Jun 2009

    2016, Game goes into Administration….again.

    Comment posted on 18/01/2013 at 10:58.
    • cc_star
      Team TSA: Writer
      Since: Forever

      There’s a lot of money to be made out of running up debt & then not paying it through legal means.

      Nice work if you can get it.

      Comment posted on 18/01/2013 at 11:09.
      • OnlineAssassin77
        Member
        Since: Jun 2012

        and you can get it if you try…

        Comment posted on 18/01/2013 at 14:56.
  4. Porcupine_I
    Member
    Since: Aug 2009

    Hey GAME, i hear there is a building in NY for sale…

    Comment posted on 18/01/2013 at 11:20.
  5. gaffers101
    Member
    Since: Oct 2008

    I would think some of the Blockbuster stores could also be suitable.

    Comment posted on 18/01/2013 at 11:25.
  6. freezebug2
    Member
    Since: Dec 2008

    The more Game outlets there are will just mean more places to trade spent games in my case. They have never been competitive enough through high street retail or online purchase for first hand game release.
    So for me, with the second hand games market facing armageddon in the next few years, any more Game stores just signifies a bigger job geographically for Deloitte, unless Game can start competing with the likes of Amazon and Shopto with their online and high street sectors!

    Comment posted on 19/01/2013 at 10:32.

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