Posted on Wednesday, March 21st, 2012 at 1:10 PM by Guest
Following this mornings announcement that GAME will be delisted from the stock exchange, the company has announced that they have entered administration.
A statement was released by the firm and confirmed that they will continue to trade and talk to it’s lenders, in order to try and come to a solution to the problems facing the group.
“Further to this morning’s announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business.”
“In the short term the Board’s intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium.”
It has been rumoured that GAME will set out to create a new chain, with just 300 stores.
We’ll keep you updated.
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