Deathwatch: Game suspends shares

21 March 2012

retail deathwatch 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 If OpCapita’s involvement has been withdrawn, administration looks like the likely next step.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".

TOPICS:   Games   Economy

37 comments

  • klingelton
    And here's me telling my mate to spend his gift card monies. He didn't listen. Now he's lost it.
  • Mr G.
    'Game Over - please insert more coins to continue'
  • Ali
    @klingelton - the stores are still open, so I'd guess your mate has until Saturday to get rid of the gift cards.
  • klingelton
    nothing he wants... so he says. basically he's a giant lazy tosser who will complain that he's lost his money despite me warning him for the last 2 weeks... nvm eh.
  • Sicknote
    Excellent, we can soon pick over the carcass remains in Game stores up and down the country; I'll be the one laughing my ass off in the Southampton store...
  • Dick
    Just buy anything with them and ebay it. £15 for a £30 game bought for £50 at game using vouchers is better than nothing.
  • kevin
    It confuses me that they are still paying you to trade things in, why would they do this is they are struggling so bad haha?
  • Frog
    The internet is killing the retail giants at an alarming rate. With no manufacturing base to speak of and soon no retail options and all the call centres shipped out to Asia what will be left to take their place. Yes we may get back our local only shops but who will have the money to spend in them?
  • Mike H.
    Frog - Where are all these people getting their money from to buy big fuck off cars, iPhones, TV's SKY subs... The list is endless. Most of the cars you see are almost brand new, and that's in the fucking day time! I don't get where all this money is coming from!
  • Marky M.
    Happy now?
  • Phil
    @Marky Mark - Yes - yes I am. I warned some GAME employee on Dealspwn to start looking for a new job a month or two ago. He just launched a torrent of abuse how it wrong it was of me to dislike GAME. Guess he'll wish he took the advise now...
  • Mary H.
    Phil - what job are they going to do?
  • Bazinga
    " Their parent company, Game Group has just asked for trading of its shares in London..." Suspended being the crucial missing word?
  • Lemax
    I bought Sim City 3000 for the PC in Game for 99p the other day because I heard they were in trouble.
  • chelseauk
    Looks like it's about all over. Notice of Intention to Appoint an Administrator 21/03/2012 "Further to this morning's announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business. The board has therefore today filed a notice of intention to appoint an administrator. In the short term the Board's intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium."
  • Phil
    @Mary Hinge - Don't know but if they starting looking earlier at least they stood a better chance than when the rest of the GAME work force start looking...
  • Jerec
    @Phil, can you do me a favour and show my Nan how to suck eggs?
  • Dick
    If you want some fun, pile up loads of games on the cashdesk, let the dork scan the lot, and then say that you heard on hotukdeals that they were all scanning at 99p each.
  • blob
    It really does amaze me how many of you are gloating over the fact that lots of people are potentially going to lose their jobs.
  • Rafe
    Well I for one hope they fold. I have a very famous friend who was treated terribly when she went in last week to buy games for her daughter. They mocked her age, her musical career, her boyfriend, and even how her daughter looks. Awful people.
  • Frank P.
    It is a terrible, terrible situation. It is a shocking state of affairs with this company. Why the fuck are the administrators allowed to get involved. Just be done with it, they should pull the shutters down on this company before the weekends out and have a big bonfire with all the stock to prevent any chance of the company surviving.
  • Kevin
    @Mike loads of people have loads of money. People aren't not shopping, look in towns every day. The shops aren't empty all week are they.
  • Rafe's F.
    Suprise suprise! It's me Cilla Black off de tellie and radio! Hiya! I haven't got a lorra lorra love for Game cuz they dissed that child of mine and me singin an all that la. I'll neva step inside again luv. I am ded sad for dem bastards losin derr jobs dough; anywan who has an hart would be. Something tells it was them mank twats steeling all the games in dem riots but I've been wrong before. etc.
  • Rafe
    Excuse me? How dare you mock me, i'm an important person with strong links to many important people.
  • RAFE l.
    Rafe get from up your own arse FFS, small i ( as in i'm) like your cock maybe ?
  • Rafe
    You are a bunch of crass morons. I was privately educated at one of the finest ladies colleges, I have a degree and many famous friends including Geri Halliwell, who are you to criticize me?
  • Melissa
    WOMAN ALERT. Boobs or GTFO, Rafe.
  • Sicknote
    @Rafe Very sorry to see you're getting a raw deal here; like you I am also posh, privately educated and own a large chunk of Hampshire. My neighbours include Gordon Bloody Ramsey, Charlie let's not wear a bra and soon to be Johnny bit mad Depp. Was it your friend in the white Range Rover that tooted at my wife in her new Bentley last Saturday; wife was awfully miffed as she's only just picked it up and she swore blind she saw Katie Price at the wheel...?
  • Boris
    @Rafe Do not forget I am the poshest person here at bitterwallet with the possible exception of Wonky Henry who is so posh he sells his poo to the queen as room freshener.
  • mrloverman
    @Rafe so are there any single ladies (from that finest ladies college you attended) you know of that may wanna hook up with me? I scrub up nice & Ive been waiting all my life for a decent lady to come my way, Im fed up of all these uncooth chavvy unintelligent women in my vicinity (no joke) btw you mentioned Geri oh my! does that mean it was Geri that was treated badly at GAYME ? I saw one of Geri's colleagues Mel B awww shes so small in real life, she was running around in this service stop (wont say which one but its in middle UK). @ everyone leave Rafe alone..OK!
  • mrloverman
    *uncouth my spelling is atrocious :(
  • mrloverman
    oops! * uncouth..my spelling is atrocious.
  • Wonkey H.
    Oddly enough, I live down the road from Geri.
  • Rafe W.
    Rafe the Fantasist has been roundly mocked for months on Popbitch for her ludicrous assertions that she has insider information on Geri Halliwell - as if anyone cares even if she does - so she has wisely moved on from there. She is missed, though, but sadly not for the right reasons.
  • Rafe
    Excuse me, I withdrew from Popbitch as I found it to be entirely devoid of true gossip- I posted the best story ever in my scoop on my friend Jennifer Lopez getting a divorce and was mocked for my insider connections. Some people are just so jealous- you all wish you were me, i'm sure.
  • Trolleydolly
    Yeah, I really wish I was some big fat hairy nerd bloke sitting naked in front of his computer in his parents' basement ...
  • rt_hon_sidney_spatchcock
    Ah, come back to Popbitch, Rafe. The place just isn't the same without you.

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