OpCapita Bids Again To Acquire Troubled Game Group

Investment company OpCapita has submitted another bid to acquire parts of troubled video games retailer Game Group PLC (GMG.LN) out of administration, the Independent reports Thursday.

But the retailer's syndicate of six banks is also continuing to evaluate a separate proposal to keep the U.K. chain on the high street, as part of a debt-for-equity swap, the newspaper reports, without citing any sources.

OpCapita had its initial offer for Game rejected by the banks, including Royal Bank of Scotland Group PLC (RBS) and Barclays PLC (BCS), last week. This forced the retailer to appoint PricewaterhouseCoopers as administrator on Monday, following the chain's failure to pay its GBP21 million second-quarter rent. The accountancy firm closed 277 of Game's 610 U.K. shops, resulting in 2,089 redundancies.

Full story: http://www.independent.co.uk/news/business/news/opcapita-bids-again-to-acquire-troubled-game-7595055.html

-London bureau, Dow Jones Newswires; +44 (0)20 78 42 9330; generaldesklondon@dowjones.com

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