Deathwatch: Game teetering on the brink as rescue attempts fail to materialise

19 March 2012

retail deathwatch Time could be running out for Game Group, with no concrete plans for a new buyer in place and a huge amount of money owed to cover property rent and wages (reportedly £33 million).

The company are also said to owe £180m to creditors, with another £10m owed to the VAT man and £40m to suppliers. Throw in the fact that they posted a loss of £51.5m in their last set of financial results and it seems almost impossible to see how the company can continue.

As a mooted rescue bid from Comet owner OpCapita appears to be stalling, it’s looking increasingly likely that Game could be heading into administration before the end of this week.

TOPICS:   High Street News   Games

23 comments

  • Mike H.
    Going out on a limb here, ya know, 'thinking outside the box' type shit. Maybe they could sell games at a reasonable price? Dunno, don't flame me.
  • Michael J.
    Well Mike, that's what they should've done in the first place, and that's what they're somehow still not doing...
  • Mary H.
    Send in Portas, with her flame hair, and manly chiseled jaw of hard faced consumerism!
  • Mr G.
    So they are in debt to the tune of over £250m - Game over i think
  • Mr g.
    I would be shocked if no one buys. I can imagine lots of new buyers just waiting to swoop.
  • Suit O.
    Buying consortium anyone? I'm good for £1.38
  • Dick
    I hope the vat man is first in the queue. The others losing money doesn't affect me.
  • AbandonedTrolley
    I'm willing to chip in £2.45 as long as I get to keep my current Game Rewards amount of £1.65!
  • ShakesHeadSadly
    Goodbye Game. That's what you get for buying gamestation and getting rid of the retro section!
  • wimpole
    That is what you get when you employing fuckwit store managers - (with Ginger hair) yes you know who you are,you slimy little Fuck.
  • klingelton
    the retro section still exists, but unfortunately most game companies saw how we all liked it and released titles on other systems, thus rendering it all a bit old. I used to like Game. They didn't smell like sweat like gamestation did.
  • Sicknote
    I have to agree with Mike Hock here; I'f I visit any high street store where I know I'm going to get the shit ripped out my wallet it's Game and then HMV. Didn't Game spend a bloody fortune obscuring all the original bar codes in an attempt to stop me comparing prices on the bar codes....would love to meet the person who posed that money making idea...? ....Mary Portas, I wonder if the collar & cuffs match
  • Matt
    Word in the indsutry is that Walmart and Gamestop are waiting for administration in order to pick up most or some of the assets. How I look forward to having those two involved on our high streets!!!! ;-)
  • Kevin
    Considering that any buyer would need to take on the debts you just know it's going to be a matter of the company being picked to pieces from the administrators once it's collapsed. Theres no point buying it. The stock is already being recalled according to some, probably so it can be sold to another seller at a better price in one go as often happens with companies who know they are on the way out.
  • Me
    If it's not clear to them that a media orientated sales company (CDs, books, DVDs, games) has no future on the highstreet then they're a load of numpties. HMV will be next.
  • Dick
    Now the retro section just means stuff they haven't been able to sell for a while since it is so fucking overpriced.
  • Spencer
    I think Game (and HMV) have done more for online piracy than just about any other retailer. "I see... so you're saying £50 is the going rate for this game? hmmm. That's a bit steep for me... are there any cheaper alternatives I wonder?" I'd like all game and gamestation stores to get bought out by the sweet store. This country needs a high street sweet shop chain...
  • shoplifter
    Fuck me...Did not realised I`d nicked that much stuff from them....seriously they should have remembered retail is detail ...Sales are vanity, profits are sanity’
  • dazza
    Fuck em they're selling pre-owned copies of Mass Effect 3 for £37.99 when HMV are selling brand new copies for £39.99. Excuse me can i trade in this sealed copy of FIFA 12 yes we can give you £16 trade in or £13 cash and then we'll whack it on the shelf for £2 less than retail.
  • Liam m.
    The staff need to work a bit bloody harder thrn, "are you ok" every two minutes hardly encourages me to spend.
  • Che B.
    EA Sports... NO longer in the GAME........
  • AntiBS
    I thought GAME & Gamestation were the chavs favourite games store..how come its going bust?. However JDSports the chavs favourite sports store, with overpriced shit seems to be doing well.
  • Che B.
    Well it seems Game has appointed administrators just in time before the wages and rent bill are due, how convenient that is. Suppliers will not supply new titles, the banks are not prepared to take risks in offering loans. Bad for staff who may lose their jobs but a lesson to all retailers DO NOT HAVE MORE THAN ONE SHOP ANYWHERE. It was the decision for such an expansion which has caused this company problems, problems thought up by corporate pricks who can only see bank notes.

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