GAME confirms rescue bid

GAME Group has confirmed that a ‘third party’ has shown an interest in providing financial support to the stricken retailer.

Although not mentioned in the statement, that third party is OpCapita, the investment firm who also owns electricals retailer Comet.

But GAME stress that although OpCapita has sought dialogue with its lenders, there is no certainty about the outcome.
GAME’s Board is still in discussions with its lenders and is reviewing its business and assets.

The statement reads: "The Board of GAME confirm that a third party has shown interestin providing additional funding for the company. The third party is seeking a dialogue with the Group’s current lenders, however there is no certainty to the outcome. At the same time, the Board remains in its own discussions with its current lenders as it continues to conduct a review of its business and assets.

"It is uncertain whether any of the solutions currently being explored by the Board will be successful or will result in any value being attributed to the shares of the Company."