GAME Group Files for Administration
Posted by James Newton
But still open for business
GAME Group plc. has submitted an application to enter administration.
The troubled chain has hit the headlines for all the wrong reasons in recent weeks, with a string of high-profile releases missing from its shelves due to an inability to secure credit agreements with suppliers and publishers. Neither GAME nor Gamestation has stocked a Nintendo-handled title since Resident Evil Revelations, which Nintendo distributed and marketed in the UK.
The chain is still open and trading during a moratorium period of 10 days, during which no company assets can be sold off or stripped down, so expect your local GAME and Gamestation to be around until at least the end of the month. After that, there are several potential possibilities: a new company formed by its lenders, a buy-out from another chain or even total closure.
Our best wishes go out to all GAME Group employees.