GAME enters administration
Today the video game specialist store GAME entered administration. GAME currently have 609 stores across the UK and Ireland and it looks like all 5500 staff will be notified and warned about closures and layoffs.
Hope is still growing that a deal can be done with one of the interested companies. Both Royal Bank of Scotland and OpCapita are the frontrunners for any potential bid, with US games giant Gamestop patiently waiting to see what transpires.
Mike Jervis, joint administrator and partner at PwC, has stated that the main priority is to continue trading and keep business running as normal while they pursue a sale. Redundancies look certain in order to make the GAME group more attractive to a potential buyer.