Deathwatch: Game suspends shares
It’s looking like ‘end game’ for Game and Gamestation now, in their current forms at least. Their parent company, Game Group has just asked for trading of its shares in London as it believes there is no equity value left in the company.
The move follows discussions with banks and a potential third party provider of finance to the beleaguered retailer, believed to be Comet owner OpCapita. If OpCapita’s involvement has been withdrawn, administration looks like the likely next step.
The other name that is being mooted for a takeover bid is US retailer Gamestop, although the chances are that they will wait until administration before snapping up the more profitable stores.
EDIT: As expected, Game has said that it intends to file for administration, saying that talks with stakeholders and other parties had not made enough progress to offer "a realistic prospect for a solvent solution".