Article written by tsa staff.
Published on 14/03/2012 at 04:30 PM.
The offer would also include paying any outstanding payments owed to suppliers.
GAME haven’t made any official statement on the offer, but share prices have started to rise over the day, and are currently around 70% higher than they were this morning.
“OpCaptia sic, which bought Comet for £2, has offered to buy out Game Group’s lenders in a move that offers a lifeline to the struggling retailer,” says the paper, calling it a ‘rescue plan’.
The deal from OpCapita would certainly make a formal deal from the likes of Walmart (or GameStop) more enticing for them. Hopes are high, then, for the 6,000 staff currently employed.
Note that this isn’t automatically saving GAME, or buying out the retailer – see: Comet.
Update: MCV has a quote directly from the horse’s mouth, so to speak. Game Group issued a statement which said:
The Board of GAME confirm that a third party has shown interest in providing additional funding for the company. The third party is seeking a dialogue with the Group’s current lenders, however there is no certainty to the outcome. At the same time, the Board remains in its own discussions with its current lenders as it continues to conduct a review of its business and assets
It is uncertain whether any of the solutions currently being explored by the Board will be successful or will result in any value being attributed to the shares of the Company.
Source: The Times.