PWC ADMINISTRATORS have managed to save about 3,000 jobs at collapsed game retailer GAME through a sale to Baker Acquisitions.
Mike Jervis and Stuart Maddison, partners at PwC, were appointed joint administrators of the UK and Ireland operations of Game Group, Game Stores, Gameplay (GB), Games (Stores), Game Station, Game (retail) and Gamestation on 26 March.
As part of the sale Baker Acquisitions, owned by parent company OpCapita, will acquire the UK business out of administration and acquire all remaining 333 UK stores and nearly 3,200 employees. Baker may also try to re-employ head office staff who were served with redundancy notices last week.
Jervis (pictured) said: “We are delighted to be able to secure this business sale and provide some much needed stability for customers, suppliers and employees alike in these uncertain times.
“This means that the GAME brand will not be another one of the retail names disappearing from the high street in the current difficult climate.”
Game suspended trading on the London Stock Exchange earlier in March due to a lack of equity value in the business.
In March the joint administrators closed 227 GAME stores resulting in 2,074 redundancies.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children