UK retailer GAME, which had nearly 1,300 stores across Europe and Australia last November, is nearing its final days unless some financial foolery and corporate conjurations work out. MCV lays out four plans it has gathered from sources, which may lead to potential outcomes over the next week for the troubled company.

The first option, which would be refinancing of the current company by buyout bidders OpCapita, has apparently been ruled out by MCV. Next is a white knight or angel arriving and saving the day, but with a Sunday deadline this is considered "incredibly unlikely." Outcome number three: GAME is GONE.

However, MCV mentions a fourth option, which would save much of the company's workforce and leave the chain with over 300 stores. The move would have GAME voluntarily enter administration and create a "new company, funded by current bank lenders." If it happens, it would occur next Monday. The plan was apparently presented to GAME's concerned suppliers today. If the publishers agree, the GAME continues next week.

Posted: Mar 21, 2012 4:44 am

Source: http://www.joystiq.com/2012/03/20/game-weighs-final-options-before-point-of-no-return/#comments