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At least two companies are quietly in the process of bidding for ownership of the physical game retailer GameStop and a sale could be announced as early as mid-February, according to a source familiar with the company.
This is from a Wall Street Journal story spotted by GameSpot that says at least two companies, including Sycamore Partners and Apollo Global Management, are looking at potentially purchasing the retailer, though all three companies declined to comment on the rumors.
This comes during an ongoing rough patch for GameStop. The company has reported falling profits and revenue across many of its recent quarterly reports and, as of last summer, said it was in ‘exploratory discussions’ with external companies regarding a “potential transaction” that, according to a source, also involved Sycamore Partners.