Tag Archives: GAME

MCV has learnt that a number of retailers and suppliers are putting plans and finances in place to ensure they are ready to acquire potentially cut-price assets should GAME go into administration this week. If a deal is not struck by the weekend it is likely that GAME will be …

A source close to OpCapita has told MCV that chief lender RBS must act fast to save GAME before it slips into administration at the weekend. OpCapita, which owns UK retailer Comet, is understood to have the cash ready and in place to repay GAME Group’s debts. In addition, it …

With any potential deal to save GAME needing to be in place by this weekend, the retailer’s share price has taken a big hit on the markets this morning. Having closed on Friday at 3.072p, GAME’s share price opened at just 2.5p this morning before falling to 1.6p after just …

GAME Group is in a race to secure 180m to pay creditors or face administration, The Sunday Times reports. The specialist giant apparently has a 21m rent payment due on Sunday, a 12m wage bill due shortly after, and owes more than 10m in deferred VAT and 40m to video …

It appears that GAME’s chief lenders have thrust the retailer back toward the brink of administration by rejecting the offer tabled by Comet owner OpCapita. The Guardian reports that OpCapita’s plan to settle debts with chief lenders such as The Royal Bank of Scotland, as well as 40m worth of …

GAME’s communications boss called me earlier. I am not a popular person at the retailer’s Basingstoke HQ right now. And for good reason. I’ve had hate mail from some of GAME’s 6,000 employees this morning. I am not a popular person at the retailer’s 600 shops right now. And for …

OpCapita, the company that has tabled an offer to pay off GAME’s lenders, has put 1,000 Comet staff on notice of losing their jobs. That represents about 30 per cent of the workforce, The Sun reports. OpCapita has already cut 450 engineer positions and put hundreds” of call centre staff …

World financial giant Goldman Sachs has become the latest company to swoop for stock in The GAME Group. The purchase was made on March 12th and was publically announced this morning. Goldman Sachs has acquired 13,120,220 shares in the company, entitling it to 3.78 per cent of its voting rights. …

It was in February last year that GAME announced its bold plans to transform its business. The new strategy featured in-store mobile technology, a focus on reward cards, click and collect, a revamped website and plans to triple its digital revenues by 2013. But most importantly, it saw GAME secure …

Publishers Codemasters, Konami and 1C have weighed in on the trouble engulfing GAME. Firms hope the ‘shake-up’ could be for the good of the industry, and that GAME will re-emerge a fitter, leaner enterprise. Konami’s UK General Manager Pete Stone told MCV: "One way or another it’s crunch time for …