Game Digital and Martyn Gibbs

Martyn Gibbs: Game collapsed in 2012 after dire trading and crippling costs led to suppliers pulling their backing. But the chief executive, Martyn Gibbs, said Game Digital was a completely new entity to the business that had to be rescued from administration in 2012 by the buyout firm OpCapita. He said: We have gone through a transformation ... we have significantly reduced our costs, according to The Independent. Game, now owned by the hedge fund firm Elliott Advisors, expects to make 12m from the float, after costs, including underwriting fees, of 8m. The funds will be reinvested in the business to support growth, Game said and Previously known as Game Retail, the company, which has 560 stores across the UK and Spain, yesterday revealed its intention to list on the London Stock Exchange within the next month to help clear debts of more than 120m. Game has since halved its UK store count to 327 but maintained market share by growing its online gaming presence and capitalising on last years launches of Xbox One and Playstation 4. Mr Gibbs said it had also reduced its reliance on new releases of games and consoles. (news.financializer.com). As reported in the news.