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GameStop is calling it quits in Spain

Video game retail firm GameStop is planning to sell or close all of its retail store locations in Spain as it refocuses its efforts on regions it perceives to be more valuable.
Video game retail firm GameStop is planning to sell or close all of its retail store locations in Spain as it refocuses its efforts on regions it perceives to be more valuable. The deal will see U.K.-based retail chain GAME take ownership of an undisclosed number of Spanish GameStop stores, while the remaining locations will be shuttered before the end of 2014. In a press release confirming the deal, GameStop representatives stated that the company saw better market opportunities elsewhere and will therefore move to, in the words of GameStop International executive VP Mike Mauler, "redeploy our resources in other areas with the greatest potential for return." However, GAME -- which relisted itself on the London Stock Exchange this summer after nearly going under in 2012 and subsequently shutting down more than 300 stores worldwide -- still maintains retail operations in the region. The arrangement must pass muster with Spain's competition authority before both companies can move forward with the deal.

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