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Ian Shepherd, the CEO of retailer GAME, has resigned from his role. I’ve said a number of times that the administrator, once appointed, takes charge of the business,” an internal GAME memo reads. Having two people try to do that is both confusing and a waste of money. With that …
Read More »GAME: Administration came after period of "careful consideration"
Retailer GAME has issued what may well be its final statement before the process of dismantling the retailer begins. It follows confirmation of its official entry into administration just moments ago. Further to our announcements of March 21st, the Board of GAME has completed its discussions with lenders and third …
Read More »GAME enters administration
After two months of worry and rumour, GAME has as of today officially entered administration. PwC remains hopeful that a going concern sale of the business is achievable”, but that will not stop the closure of many stores and the potential loss of thousands of jobs. PwC has not yet …
Read More »Ian Shepherd attacks media GAME coverage
GAME CEO Ian Shepherd has attacked the media for its reporting of the GAME situation. The comments come to light as GAME and Gamestation employees wait for official confirmation of the retailer’s going into administration – and the store closures and job losses that will result. MCV has this morning …
Read More »GAME to enter administration, fails to find buyer
As expected, retailer GAME will this morning enter administration. Furthermore, Sky News presenter Joel Hills has claimed via Twitter that no buyer has been found for the chain. The news sadly points to a store closure programme, with staff likely to be told today of which branches are to close …
Read More »RBS GAME bid gathers press momentum as store closures loom
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 …
Read More »Report: GAME talks collapse, administration sell-off imminent
Talks to save GAME have reportedly collapsed, with reports suggesting that it will enter administration tomorrow when an immediate sell-off of assets will begin. The Express reports that the move will trigger a sale of GAME’s most valuable assets in what it describes as the biggest retail failure since Woolworths”. …
Read More »Royal Bank of Scotland tables GAME bid, papers claim
It appears to be a day of conflicting newspaper reports, with The Sunday Times reporting that RBS has offered to buy GAME out of administration. It follows a report in The Express, which says the deal to save GAME has collapsed. The Sunday Times writes that the state-owned bank is …
Read More »‘One clear front runner’ for GAME
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 …
Read More »GAME Australia seeking its own funding
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 …
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