Game is Officially Out of Cash

[BrayWyatt]

www.qj.net

Well folks, it looks like the slow countdown to the inevitable for UK-based games retailer Game Group has finally hit its end—as of this morning, Game officially entered administration and requested that its shares be removed from the London Stock Exchange.



This news follows the story we reported earlier in the week regarding Game closing stores and attempting to deal with its massive debt while batting off buyout offers from a variety of potential investors. In theory, Game had until the end of the week to come up with the cash owed for wages and rent, but the company chose to enter administration early due to its inability to make “sufficient progress.”

The future of Game is unclear, but for the moment, stores will remain open and the company is continuing to negotiate with lenders and creditors. Things don’t look bright, however, and we’ll have a better idea of where the company is headed once it has appointed an administrator.

What do you think of Game’s financial troubles?

[XajNyne]

Wow! Thanks for sharing. The GAME store in my town here in Australia seems to do alright. I just don't use them much because EB Games always does a better job for me lol!

[CloudStrife7x]

damn that sucks for them, interesting share Sterling :)

[x Revenge Inc x]

I hate this store, the new games are over priced compared to prices in other stores and they ask too much for pre-owned games, I was going to buy Battlefield 3 from there but at the time it was £45.99, I'm sorry but sod that, I got it from HMV for £36.99, They still try and sell BF3 pre-owned for £27, I'd say the reason they are down the shitter is because they ask too much, they are still trying to sell Kinect for £140.99 in the store near me, where as it's £112.99 in HMV...

[faresss]

I rarely bought from GAME in the past. I always preferred EB. I remember once buying a console from EB, the price for that console went down 1 week later, they accepted the return and refunded me the differnce and gave me a new conole!

[voidmage09]

that sucks for them, interesting share Sterling :)

[thegutta]

Well never knew them but to bad for them sorry the most suck specially for the employes they out of a job now the sucks.

[Paprika]

Wow! Thanks for sharing. The GAME store in my town here in Australia seems to do alright. I just don't use them much because EB Games always does a better job for me lol!

Same not that i ever saw a GAME store down here:P