GAME Looking to Buy HMV Stores - NewsWilliam D'Angelo, posted on 18 January 2013 / 3,381 Views
Now that HMV has entered administration video game retailer GAME is looking to acquire some of its stores. GAME CEO Martyn Gibbs is talking with HMV administrators Deloitte. The HMV stores are in locations where GAME is not located, according to the Financial Times. GAME is interested in 45 stores.
Gibbs said that holiday sales were ahead of the company's expectations and is confident GAME will reach its £20 million earnings target at the end of its fiscal year in July.
"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."
GAME was just rescued from administration in April 2012 by OpCapita. GAME had closed 277 of its stores when it went into administration. If GAME is able to purchase the 45 stores it will help fill in some of its gaps.