[Dogismo]

GAME Files For Administration

The biggest blow yet to the UK's biggest high-street retailer.

Following this morning's news that GAME's shares have been frozen on the London Stock Exchange, the firm has now announced its intention to go into administration.

Below is GAME's statement to shareholders:

"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. The board has therefore today filed a notice of intention to appoint an administrator."

What does this mean? It means that the company is in dire, dire straits, though the stores will stay open in the immediate term whilst administrators try to determine the future of the company - whether that's refinancing or, potentially, closure. Ultimately, an administrator's goal is to keep the company trading, but there's no knowing what form GAME could be in at the end of it.

We're currently investigating what implications for GAME and Gamestation staff. Hang in there, guys.

~IGN

[Wolvy]

****

[King003]

do you Gus buy from there?

[iR3104D]

No i don't way to expensive

[keyster]

wooooo cheap games this weekend then lol

[Dogismo]

I hardly ever buy from there
Not that arsed tbh

I do like gamestation though
And if game goes down gamestation will too

[Towelie]

Online stores are taking over

[Dogismo]

Don't want that to happen I like shopping for games

[iR3104D]

Report: RBS to Rescue GAME
The deal could be struck before the end of the week.
March 29, 2012
by Daniel Krupa
The Royal Bank of Scotland is expected to make an offer for GAME, rescuing the retailer from administration.

According to MCV, sources close to the negotiations are confident that a deal will be struck. It could even made as soon as tomorrow - Friday, 30th March.

Since entering administration the chain has dramatically decreased its high-street presence, closing 277 stores and making 2,104 employees redundant.

[Dogismo]

I work for RBS 😊

[iR3104D]

Probably u that's puttin up the cash Dog aha aha

[Dogismo]

ssshh don't tell anyone haha

[keyster]

Its coming outta ya wage.
You gotta take a cut lol!