Thunderful Group sells game distributor Nordic Game Supply amid financial problems
The Swedish holding company Thunderful Group continues to dispose of assets. A month after the sale of the publisher Headup Games, the company agreed to sell Nordic Game Supply.
The buyer will be Handelsselskabet, owned by Henrik Mathiasen, Acting CEO of Nordic Game Supply.
The Thunderful Group and Handelsselskabet have not yet determined the final price of the Nordic Game Supply. It is currently estimated that it will amount to 76 million Swedish kronor (6.98 million US dollars), but this amount is being discussed.
After the deal, Nordic Game Supply will be closed, but Handelsselskabet will retain all of its employees and most of the distributor's assets.
Thunderful Group expects to improve its financial position by selling Nordic Game Supply. In a preliminary report for the first quarter of 2024, she said that the holding's revenue fell by 28% to SEK 391.7 million ($36 million), and adjusted EBITDA turned out to be negative - minus SEK 28.9 million ($2.65 million).
Now the shares of the Thunderful Group are trading at almost half the price as at the beginning of the week. Their value collapsed by 46.19% to 2.05 Swedish kronor ($0.19) per piece.
