Retail

Two more national newspapers have reported that The Royal Bank of Scotland is leading a consortium of bidders interested in acquiring The GAME Group. Yesterday MCV reported that a Sunday Times story claiming that the state-owned bank was interested in saving GAME from collapse. This morning The Telegraph reports that …

HMV will close its Guernsey warehouse and now run its website from the UK. It follows the end of Low Value Consignment Relief (LVCR), which has allowed online retailers to sell goods tax-free into the UK. As of April 1st, there will be no tax advantage to having a warehouse …

There is one clear front runner to buy GAME as part of a post-pack administration, sources close to the administrators have told MCV. GAME is not officially in administration yet. The High Street chain will name Mike Jervis and Stuart Maddison of PWC as their administrators. According to the Financial …

With the UK and Spanish GAME operation looking for investors / buyers to keep the chain alive, Australia is taking similar steps. The chain’s 600+ Australian employees have been in a period of uncertainty since GAME’s troubles in the UK began, so management locally is making inroads towards having local …

Speaking to investors following the publication of its most recent fiscal results, GameStop has seemingly ruled out the chance of a GAME takeover in the UK. Having closed all of our UK stores, we are focused entirely on competing digitally in the UK," GameStop International’s executive VP Mike Mauler stated. …

There are fewer stores than ever selling games, ERA and Chart-Track says. Last year 6,644 stores sold games, down 1.7 per cent year-on-year. It means since 2007 there are now 1,000 fewer shops selling video games. A reduction in entertainment specialists and electrical retailers are the main reason for the …

Sainsbury’s, Tesco, Asda and Morrisons have stalled in their bids to become the next major players in video games, ERA reports. Based on Chart-Track figures, supermarkets accounted for 27.3 per cent of all games sold last year – that’s down 0.2 per cent from the previous year. In terms of …

Keith Ramsdale, the boss of EA UK, has predicted that a new-look GAME will rise from the ashes of the current company. "I do hope and believe there will be a phoenix rising from the flames,” Ramsdale told an audience at today’s Westminster Forum event. GAME is full of good …

Consumers across UK, Germany and France spent over a billion dollars on non-new physical games in the last three months of 2011. According to new data from NPD looking at ‘all monetization methods outside of new physical retail sales’, used games, game rentals, subscriptions, digital full-game downloads, social network games, …

Leading financial and retail experts are all eyeing up a move for GAME Group. But as-of-yet only one has made a firm offer. Some GAME rivals have even readied funds in preparation of a possible administration – with the firm’s 19.4m loyalty card database and GAME.co.uk domain amongst the targets. …