GAME UK has been sold and will stay open for business, according to a story on BBC News. The investment capital group OpCapita has reached agreement with Game Group on the sale of GAME’s UK assets to Baker Acquisitions Limited. The news has been confirmed via an announcement on OpCapita’s own website.

Under the terms of the deal, Baker Acquisitions will acquire the UK business out of administration and will provide it with the capital it needs to continue to trade. Baker will acquire all 333 UK stores that have remained open during the period of administration and this also means that the jobs of nearly 3,200 GAME employees have been saved. Baker Acquisitions will also seek to re-employ a small number of staff who previously worked at GAME’s head office but who received redundancy notices last week. There are no plans for any further store closures.

This is great news for gamers, the high street and of course many of GAME’s staff. It means there is a window of opportunity for GAME to turn things around. It’s going to require a substantial strategy change though, massive improvements to their online model and current store format but as many have said, it’s not impossible. Buzzhut published an article back on March 15 with some early thoughts on this.

What do you think GAME needs to do to improve and compete with the supermarkets, online and other retailers? Let us know in the comments below.