The administrators of Game Group announced this week that the company’s remaining assets will be sold to OpCapita.
The sale will mean that the group’s remaining 333 UK stores – incluing the branch in Bury St Edmunds – will stay open saving nearly 3,200 jobs.
Mike Jervis, administrator to the Game Group, 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.”
OpCapita has set up a company called Baker Acquisitions Limited which will purchase the Game Group and provide the capital required for it to run normally.
Henry Jackson, managing partner of OpCapita, said: “We have assembled a strong team of experienced industry operators to implement the programme of operational change that is needed.
“There is a huge amount to do but we look forward to the challenge of restoring Game’s fortunes in partnership with its employees and suppliers.”
The future of the Game Group has been uncertain since the end of February when they failed to secure an agreement to stock major new releases. Remaining staff will be transferred to Baker Acquisitions and a small number of head office staff who received redundancy notices last week will be re-employed.