Report: Game to close, new company to open Monday
Game Group's board has presented interested parties with four potential next steps for the retailer after a period of consultation with Game's major suppliers and a financial specialist, it has been reported.
MCV sources suggest that Game Group is planning to voluntarily enter into administration this weekend before opening a new company on Monday. It would be funded by current lenders, include only the chains UK and Spanish networks and lead to the abolition of Gamestation.
As suggested by industry analysts, a store closure program would reduce the company down to a base network of around 300 outlets.
Other tabled options are reportedly a refinancing of the company, a White Knight investor – given that the deadline for action is Sunday this is looking increasingly unlikely – and, of course, the company entering administration and closing down on Monday.
Game has issued a statement saying that it challenges "many of the claims" in MCV's original article, but has not elaborated further.