With the rise of online marketplaces such as Amazon in recent years, numerous high street retailers around the world have been struggling to keep up with the competition. The UK videogame retailer GAME was one of the chains that was struggling to stay afloat, however the company has now been taken over by Sports Direct owner Mike Ashley.
A £52 million takeover has secured Ashley over 50% of the companies shares, following his previous shares of 38.5%. This puts Ashley in the majority, meaning that he has now effectively taken ownership of GAME.
While this means GAME will likely live to see another few years on the market, it’s uncertain as to what measures Ashley will take to ensure its longevity.