GameStop seeks buyer for its Canadian and French branches (Micromania - Zing)
, by Thibaut
The global video game retail giant has announced that its assets in Canada and France are for sale.
In simple terms, this means that GameStop is now looking to divest its Micromania - Zing subsidiary, which has over 300 stores in mainland France. At the time of writing, no store closures are planned.
GameStop acquired Micromania in 2008 for around 500 million euros. Last year, the French company posted sales of 606 million euros, operating income of 9.92 million euros and net income of 10 million euros.
In a press release, Micromania stated that this announcement had no impact on its operations in France. Shops will remain active, pre-orders honored and vouchers valid.
Such profitability could very well that could motivate future buyers. If none come forward in the next few weeks or months, and GameStop really does not want to keep it, the Micromania - Zing chain could disappear.
Source: news.gamestop.com