Reuters: Bankruptcy News: RPT-Retailer Game's Spanish stores rescued from administration

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RPT-Retailer Game's Spanish stores rescued from administration Apr 13th 2012, 15:32 Fri Apr 13, 2012 11:32am EDT LONDON, April 13 (Reuters) - Video games retailer Game Group's Spanish operations have been bought out of administration by investment firm OpCapita, with an eye to eventually selling them on, OpCapita said on Friday. The private equity firm, owner of British electrical goods retailer Comet, has already bought the larger British operations of Game out of administration. Game - which has struggled against a tough consumer environment as well as intense competition from online sellers and supermarkets - went into administration last month, resulting in the immediate closure of 277 British and Irish stores. OpCapita said there were no plans to close stores across the profitable Game Iberia business, which employs 1,000 people in 290 stores across Spain and Portugal. It was evaluating a potential sale of Game Iberia while focussing on the operational turnaround of the British operations, it said. Game also has operations in France, Scandinavia, Australia and the Czech Republic.

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