Game Group announces IPO plans
Game Group, the video game retailer which went into administration in 2012, has announced plans for an IPO.
OpCapita, the hedge fund that bought what remained of the company, is working with banks including HSBC on the IPO plans, the Financial Times revealed today.
Game blamed ‘cashflow and profit issues’ as well as high fixed costs when it went into administration following months of rumours about the worsening condition of the finances of the business.
Before the administration was announced, Game was unable to stock EA Games, with the pair in “discussions about future launches together”.