GRAPEVINE, Texas--(BUSINESS WIRE)--GameStop (NYSE: GME), a family of specialty retail brands that makes consumers favorite technologies affordable and simple, announced today its intent to exit the Spanish market via the sale of certain retail locations to specialist video games retailer, GAME Digital Plc (“GAME”) in combination with closures of the remaining locations. Under the terms of this proposed agreement, GameStop will transfer ownership of a portfolio of GameStop stores located in Spain with the remaining retail sites winding down in 2014. GAME already has a strong consumer presence in the country in addition to its retail operations in the UK. In the coming months, GameStop will work closely with GAME to ensure a smooth transition and continued support for all of GameStop’s customers in Spain. “We are focused on ensuring commitments to our customers, employees, vendors and other stakeholders are met during this process,” stated Mike Mauler, executive vice president, GameStop International.
The strategic decision to exit the Spanish market was made after a careful review of the market’s financial performance and future opportunities, which ultimately indicated the Company would be better served by curtailing its operations in Spain and focusing its resources in other countries where GameStop has significant market share. GameStop expects to maintain and expand its presence in the other European countries in which it currently operates.
“Our strategic decision to exit the Spanish market was not taken lightly,” said Michael Mauler. “We are constantly evaluating our portfolio and regional focus to deliver maximum effectiveness and profitability. As it stands today, we believe other international markets better match our operating criteria and as such have decided to redeploy our resources in other areas with the greatest potential for return. With its existing presence in Spain, GAME is the logical company to acquire our stores and this move will maximize job retention and ultimately ensure that the Spanish video game consumer will still have access to the best hardware and software they demand.”
The proposed deal will require Spanish Competition Authority approval, which is expected to be completed in October. Financial terms of the deal were not disclosed.
De las tiendas cerradas se hará cargo la franquicia Game, que ampliará su número de establecimientos en España.
Personalmente, y dejando fuera a los currelas, me alegro de que cierre. Caros, timadores, seminuevos a precio de novedad, ofertas cutres...
A tomar por culo, Gamestop.