GAME holds crunch talks with suppliers

A takeover at GAME still looks some way off, with the retailer having recently held talks with publishers in an effort to raise funds needed to pay store rents this weekend.

GAME still hopes a takeover can be agreed, but it will not be completed in time to fund the hefty rent bill due to be paid this weekend.

Several suppliers have engaged in negotiations with GAME today to try and agree new supply terms. If a deal cannot be struck and GAME fails to pay its rent bill this weekend, the chain will be closed on Monday.

GAME is understood to be asking publishers to supply product despite the lack of credit insurance. It has also outlined a number of internal cost-cutting measures including additional store closures.

"We all want a strong specialist to survive, not a lame duck just bumbling along – that would be pointless. Somehow, we’ve got to find a way," said one supplier.

"And one thing’s for sure, whatever happens there won’t be 600 stores in the UK. There has to be reduction in store count. And the real shame about that is the fact that it’s not the UK or Spain that has caused this predicament. It is France, Australia and Scandinivia that has been losing big money for a long time.

You have to wonder why someone somewhere within GAME didn’t notice that and do something about it sooner. Those stores should have been closed."