GameStop in talks with private equity firms over possible buyout
The high street continues to struggle
Recommended VideosHigh street video game retailer GameStop has confirmed it is currently in talks with various parties over a possible buyout, hoping to find an answer to ongoing financial woes.
The news comes at the end of a turbulent time for the retailer, who recently lost their new CEO, Michael Mauler, after just three scant months in the job. The company have also dealt with a credit card security breach, as well as the struggle to exist in an ever-increasingly digital market, ultimately resulting in the closure of over 100 stores.
Although, as of this writing, no deal has been secured, GameStop are hoping to find a prospective buyer who could lend financial and business support to allow the chain to continue onward, for this generation of gaming and beyond.
It is very much a sign of the times, one that affects not only video games, but all forms of retail. I personally spent nearly twenty years in retail, mostly in gaming, and I can count the stores I worked in a decade ago, independent or otherwise, that remain open today on less than one hand.
GameStop in talks with buyout firms after drawing interest [Reuters]
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