Beleaguered computer games retailer Game has reactivated its loyalty scheme, The Reward Card, and plans to boost its online presence after being rescued by business turnaround specialist OpCapita.
The move, which sees 333 shops rescued from administration and more than 3,000 jobs saved, has also resulted in the departure of chief executive Ian Shepherd.
The former head of CRM at Sky had originally claimed that marketing to loyalty scheme members – of which there are nearly 20 million – would bring in more than £100m in extra sales but ultimately its £85m debt pile led to its financial backers pulling the plug.
Henry Jackson, managing partner of OpCapita, said: “We strongly believe there is a place on the high street for a video gaming specialist and Game is the leading brand in a £2.8billion market in the UK.’
“There is a huge amount to do but we look forward to the challenge of restoring Game’s fortunes in partnership with its employees and suppliers,” he added.
Administrator and PwC partner Mike Jervis said the intervention of OpCapita meant “the Game brand will not be another one of the retail names disappearing from the high street in the current difficult climate”.
The company has struggled to compete with a flood of online video games retailers with much lower costs.
Giant supermarket chains have also encroached on Game’s territory, able to use their size to undercut the firm on price.
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