Game Group to file for administrationPlatforms: All
Not good news for the Game Group unfortunately as news has emerged today that they intend to file for administration. Shares in GAME were also suspended earlier today "pending clarification of the company's financial position".
The group, which is headquartered in Basingstoke, has 1,300 stores worldwide, including 600 in the UK has struggled for some time and with rent and wages due soon it looks like it may be curtains for the retailer. It has said the business would continue to trade and discussions with lenders and third parties would continue. With fellow high street chain HMV reported to also be struggling does this signal the end for the High Street game store? Will consumers be limited to buying online or from their local supermarket?
The coming days/weeks are set to be a very interesting time indeed.
The team at TDF would like to wish all GAME and Gamestation employees the best in this difficult time.