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REPORT: GAME Facing Administration

Author:
Matt Gardner
Category:
News
Tags:
Administration, GAME, GameStop, UK retail

REPORT: GAME Facing Administration

A report from MCV has suggested that the GAME Group may well be facing administration in two weeks,

"Senior staff were told at a meeting with CEO Ian Shepherd earlier this week that the chain has approximately two weeks to turn its fortunes around," reads the report.

It would appear that a buyout from US rival GameStop or other investor is the only hope for survival, with today's Fire Sale having already rung alarm bells, as the chain tries to inject some cash into proceedings.

"Should a deal with GameStop not be agreed in the coming days then GAME Group is readying a move into administration, possibly with a pre-package acquisition already planned for its would-be suitor," continues the report.

When asked for a statement, a GAME spokesperson said that it does not comment on rumour or speculation.

Whatever our thoughts on the chain's retail practices, our thoughts go out to GAME Group employees during this difficult period.

Add a comment5 comments
phil16  Mar. 9, 2012 at 16:52

I feel bad doing it but 'I told you so' several weeks ago. Just hope some of the employees took my advice and started the job hunt early. Feel bad for them but not surprised in anyway.

musicrabbie  Mar. 9, 2012 at 17:15

Sad. Lost many customers when they changed to Citipost and the new website (have they finished it yet?) was a disaster.

Jerec  Mar. 9, 2012 at 18:36

About time these shysters got the boot, over priced games and ridiculous service in some stores.

I still can't believe HMV has hung in there either!

Anarchist  Mar. 9, 2012 at 23:37

Why on earth do my comments on game articles always seem to disappear?

Last edited by Anarchist, Mar. 9, 2012 at 23:37
Late  Mar. 10, 2012 at 11:56

Why on earth do my comments on game articles always seem to disappear?
Not just me then.
Posted something a few days ago about them charging £10 to playtest the vita instore at my local Game (asking whether it's a nationwide policy) but the post disappeared. Thought I was going senile tbh!

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