Technology content trusted by users in North America and around the world.
5,018 Articles | 30,556 Posts
Select Your Edition:  
Giveaway time thanks to AMD! Win one of five A Series A8 6600K 3.9GHz CPU's 
Tweakipedia
A wealth of
tech information!

TRENDING NOW: Microsoft does 180 on Xbox One DRM, drops 24 hour requirement, other changes

USA EditionYou are located: Home > All News > Business, Financial & Legal News > GAME goes up for sale, no trade-ins, and no 1UP's left

GAME goes up for sale, no trade-ins, and no 1UP's left

By: (more) | Business, Financial & Legal News | Posted: Mar 14, 2012 6:22 am

It was only a little over 24 hours ago that we reported that game retailer, GAME, had "two weeks to turn its fortune around", but it seems those two weeks were a bit of a stretch. It's now being reported that The Game Group PLC is losing share prices, and fast. Dropping from 62p per share of last year down to a catastrophic 1.28p per share yesterday.

 

game_goes_up_for_sale_no_trade_ins_and_no_1up_s_left

 

In response to this, the group has now placed their entire business up for sale, desperately looking for a buyer. GAME owns 610 stores in the UK alone, with 6,000 staff, as well as another 4,000 staff and 663 more stores across the world, with brands such as ScoreGames, Centro Mail, GAME, Gameplay, and Gamestation. The board has said:

 

It is uncertain whether any of the solutions currently being explored by the board will be successful or will result in any value being attribute to the shares of the company ... It has not been possible to source new products from a number of suppliers.

 

There's also a March 25th date of doom floating around for the troubled group, where their second-quarter rental payment is due. If a deal cannot be struck between now and then, the firm may collapse and go into administration. In the words of Hicks from Aliens, "That's it man, game over man, game over!"


SOURCE #1

Related Tags



Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

TweakTown News RSS FeedDo you get our news RSS feed? Get It! Got a news tip? Tell Us!

Post a Comment about this news



Check out our
RSS feeds!


Business, Financial & Legal News Posts

View More Business, Financial & Legal News Posts


TweakTown Web Poll

Question: Now you have the facts, which is your next-gen gaming console?

Microsoft Xbox One

Sony PlayStation 4

I'm a PC gamer, or not interested, or buying something else

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Business, Financial & Legal Press Releases

View More Business, Financial & Legal Press Releases