GAME Retail Group May Return To The Stock Market
Peter Donnell / 3 years ago
It was only 18 months ago that GAME were in serious financial trouble, they shut hundreds of stores, lost many employees, they were dead in the water. However, Financier Henry Jackson did a fantastic job at returning the company to glory and while some hard decision were made at the start, now the company is opening new stores, earning money again and even thinking about heading to the stock market.
An IPO is being considered as investors seek an exit from the retail chain, news that hits at a perfect time as the store is hoping to record new records with the launch of two new games consoles. Although neither GAME or Henry are willing to comment on such rumours at this time.
According to An industry source the Daily Telegraph claim he is looking to float the company at £100-200 million, most likely after the new consoles launched.
Profits hit £15 million in 2011-2012, the last set of published figures, and the chain is targeting £40 million in the current 2013-2014 financial year. It is good news for Jackson, who is a director at Capitex Holdings, the owner of Game, and one can only suspect they’re looking for a big win after the flop that was the Comet retail chain.
Thank you Telegraph for providing us with this information.