Reuters: Bankruptcy News: OpCapita in fresh bid for Game - source

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OpCapita in fresh bid for Game - source Mar 29th 2012, 09:25 LONDON, March 29 | Thu Mar 29, 2012 5:25am EDT LONDON, March 29 (Reuters) - British private investment firm OpCapita has submitted a renewed bid to acquire parts of video games retailer Game out of administration, a source familiar with the situation said. The source said on Thursday OpCapita, which earlier this year acquired British electricals chain Comet from Kesa , was interested on taking on the 333 Game stores in Britain that remain trading. Game collapsed into administration on Monday after failing to pay its second-quarter rent bill. Administrator PwC immediately closed 277 of 609 stores in Britain and Ireland, making 2,104 of 5,521 staff redundant. Last week OpCapita had an offer to buy Game's debt and pay suppliers rejected by lenders, led by Royal Bank of Scotland and including Barclays and HSBC. The lenders are working on their own proposal. Separately on Thursday, a report on video games industry website MCV said the RBS-led bank consortium was the frontrunner to seal a deal. Analysts believe U.S. rival Gamestop could be interested in some of Game's overseas assets. PwC, OpCapita and RBS all declined to comment.

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