GAME has confirmed that it has filed to enter administration.
An internal letter that appeared online recently, which was issued by the company, confirmed the impending closure, but now as of today, GAME have openly addressed the immediate future:
“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 retailer will continue to trade for now, with talks with lenders and third parties to “continue”:
“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.”
With over 1,300 stores across the globe and 600 of these in the UK, we can only wish to best to all those affected.
Thanks, CVG
