GAME weighs final options before point of no return

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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.

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

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"GAME weighs final options before point of no return" :: Login/Create an Account :: 22 comments

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xsuperxsmashxPosted:

I think they should close down imo, they give the worst trade in rates and charge ridiculous amounts for games that are pre-owned compared to gamestation/cex/hmv. They also charge for a loyalty card even though gamestation gives you one for free. The only bad thing about this is the people that will lose their jobs.

OasisPosted:

I'm keeping an eye on this, I'll be first in line to scoop up any cheap deals if they do kick the bucket.