The UK retailer is still looking at options which allow it to continue business, albeit under a different name.
GAME Group has confirmed that it will file for administration, as it continues to search for future investment to safeguard its business.
The future looks bleak for GAME.
“Further to this morning’s announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business,” stated an official communication from GAME obtained by MCV.
“The board has therefore today filed a notice of intention to appoint an administrator.
“In the short term the Board’s intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium.”
Regardless of your own stance on pre-owned games, it’s still sad to see such a well known name on the high-street go through the ringer.
Our thoughts are with the staff of GAME and Gamestation and we hope a job-saving solution is found quickly.
Tags: GAME
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