TRENDING NOW: President Biden wants GPUs and next-gen consoles in your hands ASAP

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

GAME goes up for sale, might collapse soon or go into administration.

@anthony256
Published Wed, Mar 14 2012 1:22 AM CDT   |   Updated Tue, Nov 3 2020 12:29 PM CST

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 | TweakTown.com

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!"

NEWS SOURCE:hexus.net

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles