GameStop Canada Returns to EB Games Branding
French-Canadian entrepreneur Stephen Tetrault acquired Electronics Boutique Canada inc. from GameStop Global Holdings S.A.R.L. on May 5 and will rebrand the stores as EB Games Canada.The Canadian storefronts of the video game retail chain rebranded into GameStop Canada in July 2021, after being established under the EB Games Canada title in 1993.Trenault made the acquisition with the help of HNA, a multidisciplinary accounting firm located in Montreal.The rebrand is expected to take place over the next few months, with new store signage, a new website, new branding, and a revamped shopping experience.The chain of video game stores originally launched as Electronic Boutique in 1977 in the U.S., before spreading to other territories internationally. EB Games and GameStop merged in 2005 in a US$1.44 billion deal.The company changed CEOs in June 2023 after terminating its contract with Matthew Furlong, who held the position for two years.The company's sales declined 10% in the first quarter of the fiscal year in 2023 and adopted aggressive cost-cutting to narrow its losses in the previous fiscal year but still lost US$300 million.Since 2019, GameStop has closed over 800 stores worldwide.Source: PR Newswire
