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GAME To Appoint Administrator

The GAME Group plc. have released press statements which state that they are no longer trading on the London Stock exchange and have intent to appoint an administrator.

This morning, the GAME Group plc. were in discussion with its leading banks, third party providers and stake holders.

The Board now considers itself to be unable to assess the business's financial position, and is of the opinion that there is no equity value left in the Group. Therefore the Company has requested that the listing of its securities on the Main Market of London Stock Exchange plc be suspended from trading with effect from 7:30am today.

They then went on to say that they have not been able to come to a "solvent solution for the business". They have today filled 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.

Keep your eyes peeled for more news from the GAME Group plc. as we report it.

Kaostic | 21st March, 2012
Kaostic's picture
Constantly checking Game as i walk past now for cheap deals.. The pre-owned games are thinning as people collect games in "the spring cleanout"
TGK's picture
I heard they are disbanding GameStation.
Ewok's picture
Rumours abound but one thing is fairly certain. They have a reported £21 million rent payment due on Sunday so the chances of them still being open for business on Monday are slim to none.
Kaostic's picture
Best get to a GAME on Friday Night then I suppose whilst they empty their stock!!
TGK's picture
Quote:
Originally Posted by Kaostic View Post
Best get to a GAME on Friday Night then I suppose whilst they empty their stock!!
BUY ALL OF THE GEMSE!

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