GameStop Canada says it has been acquired by French-Canadian entrepreneur Stephan Tetrault from the online game retailer’s struggling guardian firm.
Firm stated in February it was trying to promote Canadian arm in re-evaluation of property
GameStop Canada says it has been acquired by French-Canadian entrepreneur Stephan Tetrault from the online game retailer’s struggling guardian firm.
Formally named Electronics Boutique Canada Inc., GameStop Canada says it should relaunch its 185 shops as EB Video games Canada — a reputation related to retail gaming from bygone a long time.
Tetrault is the founding father of Boisbriand, Que.,-based toy producer Imports Dragon and co-owner of American motion figure-maker McFarlane Toys, and final month grew to become a associate at Canadian chain Mastermind Toys.
U.S.-based GameStop Corp. stated in February it was trying to promote its Canadian and French operations because it evaluates its worldwide property and doubles down on cost-cutting.
GameStop was one of many corporations on the centre of the “meme inventory” craze on Wall Road, which noticed struggling manufacturers’ share costs soar as retail buyers made dangerous bets.
Its gross sales final yr declined 27 per cent to $3.82 billion, although web earnings shot as much as $131.3 million versus $6.7 million in 2023.
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