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Rumour: GAME To Exit Administration Tomorrow Thanks To RBS Buyout?

Author:
Jonathan Lester
Category:
News
Tags:
GAME, RBS, Rumour, UK retail

Rumour: GAME To Exit Administration Tomorrow Thanks To RBS Buyout?

MCV reports that GAME's administration period may come to a close as early as tomorrow, as an RBS-led consortium currently leads the race to save the retailer. Gamestop, once considered to be the front runner, has apparently lost their "appetite" for making a deal, which is likely down to their reluctance to buy French stores to avoid competing with their own chain.

However, if true, RBS deserves to weather some stern questions in this pundit's opinion. After all, they refused to extend the GAME group a financial lifeline when they acted as chief lenders... and played a key role in rejecting OpCapita's rescue bid that would have guaranteed the jobs of the entire workforce... only to swoop in themselves. Isn't that some blatant self-interest?

Either way, here's hoping for a speedy resolution. Just remember that there are likely to be some big (and probably brutal) changes ahead.

UPDATE: The Independent reports that OpCapita have submitted another potential deal after being spurned last time. Perhaps this race isn't sewn up as tightly as MCV believes? Remember that all of this is technically hearsay until GAME themselves step up and tell us their decision.

Add a comment11 comments
DivideByZero  Mar. 29, 2012 at 11:08

Crikey! That is well dodgy.

Shadowmancer88  Mar. 29, 2012 at 11:12

I'd rather Gamestop have bought them as they are actually doing quite well in America.

phil16  Mar. 29, 2012 at 11:15

Hate to play devils advocate (especially for RBS) but there was no way any buyer would have kept all the stores open - there are/where three in Southampton and Maidstone. Neither really need more than one large store. At least with these extra stores stripped the chain might make money and be viable again...

Last edited by phil16, Mar. 29, 2012 at 11:15
StolenDiagram  Mar. 29, 2012 at 11:24

I'd rather Gamestop have bought them as they are actually doing quite well in America.


A Gamestop buyout would be VERY bad news for the customer. Anyone who has used their website in the past will tell you that their prices are not competative, oftentimes will decieve with their pricing and charge you in full for preorders at the time of placing the order, rather than dispatch - even if your product is months, even a year away from release!

These traits would mostly carry over to GAME and Gamestation under their watch. Be careful what you wish for, that's all I say.

Rubisco  Mar. 29, 2012 at 11:37

Just whose interest do you think RBS should be acting in if not their own?

StolenDiagram  Mar. 29, 2012 at 11:57

Just whose interest do you think RBS should be acting in if not their own?


Oh I don't know, maybe the taxpayer who part owns them and does so because of a bail-out brought on by some VERY bad investments. This seems to be another!

Rubisco  Mar. 29, 2012 at 12:15

When they act in their own interest they ARE acting in the interest of the taxpayer.

Public ownership of RBS shouldn't make them beholden to every "socially responsible" brain-fart from whatever do-gooder wants to score political points that week. They should do nothing but make our money back for us, pure and simple.

StolenDiagram  Mar. 29, 2012 at 12:19

When they act in their own interest they ARE acting in the interest of the taxpayer.

Public ownership of RBS shouldn't make them beholden to every "socially responsible" brain-fart from whatever do-gooder wants to score political points that week. They should do nothing but make our money back for us, pure and simple.


And this hair-brained scheme will not be doing that. The brand is far too damaged, consumer confidence will be totally lost after they failed to supply many big titles. Short of "We're sorry, please buy from us again 75% off" sales, I don't see how they can reclaim what was lost.

StolenDiagram  Mar. 29, 2012 at 12:20

When they act in their own interest they ARE acting in the interest of the taxpayer.

Public ownership of RBS shouldn't make them beholden to every "socially responsible" brain-fart from whatever do-gooder wants to score political points that week. They should do nothing but make our money back for us, pure and simple.


And this hair-brained scheme will not be doing that. The brand is far too damaged, consumer confidence will be totally gone after they failed to supply many big titles. Short of "We're sorry, please buy from us again 75% off" sales, I don't see how they can reclaim what was lost.

Rubisco  Mar. 29, 2012 at 13:06

So you think they should just let Game die and in the process just write off the millions they're owed, instead of using that debt to acquire on the cheap a major high street video games presence on the cusp of the first major console release in over 5 years?

Game will never be what it once was but whatever can be salvaged is better than nothing!

StolenDiagram  Mar. 29, 2012 at 14:03

They should buy it for the couple of quid that it's probably valued at sure, but they shouldn't invest more millions into trying to fix something that is probably beyond repair, unless they're prepared to totally change the way the company is organised, which let's be honest here, is extremely unlikely.

If you thought GAME's old board of directors were greedy, just think about what a board of directors comprising of bank bosses would do with it!

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