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GameStop to close 120-130 stores; open 300-400 tech stores under new banners
Grapevine, Texas -- GameStop Corp. will close 120-130 of its 6,457 stores worldwide in 2014 and add 300 to 400 new tech stores under three different banners: Spring Mobile, Cricket and Simply Mac. The closures and openings are part of the company’s new “GameStop3.0” repositioning. The new strategy emphasizes mobile-gaming.
“The opportunities that have presented themselves we see as unique,” said GameStop CEO Paul Raines during an investor meeting last week.
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Leonard Green managing partner leaves post
Los Angeles – Peter J. Nolan, 55, one of three managing partners of private equity firm Leonard Green & Partners, is leaving his post. Leonard Green holds investment stakes in major retail chains including J. Crew, Petco, The Container Store, and Topshop/Topman.
Nolan will serve as a senior advisor to Leonard Green and also serve as a board member of several companies in its portfolio. He is leaving to devote more time to philanthropic activities.