After losing the support of numerous publishers, some of which included behemoths such as Nintendo and EA, GAME have decided that adminstration is all that’s left.
In a statement GAME have said:
“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. 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.”
Walmart and OpCapita have both apparently tabled offers for the stricken company but as of today there has been no progress. GameStop the giant US retailer was apparently interested as well.
GAME also mentioned that they could resurrect the company after administration. This would be accomplished by ditching the Gamestation brand and it’s international brands, and probably changing the brand and images. We wait and see.
How do you feel about GAME entering administration, will you be sad to see a high quality gaming retail shop disappear from the retail world? And take a few minutes for the 10,000 people who may lose their jobs if no buyer or plan B is found.