Report: Game Group rescue deal “incredibly close”
Ailing UK retailer Game Group could exit administration before the week is out, according to reports.
Sources close to negotiations have told MCV that a deal is "incredibly close" and the retailer could be saved as early as tomorrow. Despite reported interest from private equity firm OpCapita, and US retail chain GameStop, it appears that a consortium led by Royal Bank Of Scotland is closest to sealing a deal to save the company.
RBS is Game Group's largest creditor – it owes the bank some £45 million. It would be curious were RBS to ultimately secure Game's future given that it turned down an OpCapita rescue bid last week, resulting in Game slipping into administration, closing 277 stores and cutting more than 2000 jobs – around 40 per cent of its UK workforce.