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Report: GAME Out Of Administration Tomorrow

That was quick.

According to MCV, who are still following the whole saga with keen eyes, GAME will most likely exit administration as early as tomorrow, with a deal from RBS apparently set to kickstart the company back into life.

Although the bank-led consortium failed to accept OpCapita’s offer, which led to the massive job losses and store closures that we’ve all seen since Monday, it seems likely that the publicly-owned lender will be the ones behind the deal.

Hopefully this will mean that the currently open branches will remain that way.

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23 Comments
  1. bigbaldwolf
    Member
    Since: Mar 2012

    I was suprised when OpCapita’s bid was rejected but it’s good to see that GAME should be ok. I think shops would have been closed anyway with whoever took the company over. Fingers crossed that the rest of the jobs can be saved

    Comment posted on 29/03/2012 at 10:09.
  2. andymclelland
    Member
    Since: Jun 2010

    Thats great news! So happy that they will be staying open. As everyone is saying, lets hope they take this as a huge wakeup call and sort out the business strategy.

    Comment posted on 29/03/2012 at 12:22.
  3. The Lone Steven
    Never heard of him.
    Since: May 2010

    Excellent although, does this mean the taxpayer owns Game as well?

    I hope they get someone who knows a lot about gaming and knows how to run a bussiness. I wonder if RBS will write off the debt that Game owe them and recover the costs over the next few years or deduct any profits made by Game to cover the cost untill it is fully covered?

    Comment posted on 29/03/2012 at 12:42.
  4. E8_BALL_
    Member
    Since: Jul 2010

    Let’s see if remaining stores still charge a steep amount for software.

    Comment posted on 29/03/2012 at 13:11.
  5. colmshan1990
    Member
    Since: Apr 2009

    Would they be willing to reopen some of the now closed stores?
    There are large areas with no GAME store now.

    Also, would they pay the entitlements the former GAME employees aren’t currently getting? There’s sit-in protests in the GAME stores in Cork, because Irish law lets companies get away with not even paying the employees the bare minimum.

    There’s a news story there if you’re interested, TSA writers. Might help bring more awareness to the situation too.

    Comment posted on 29/03/2012 at 13:34.
    • TSBonyman
      Member
      Since: Dec 2009

      Apparently .. “UK administrators ignored Irish employment law by not giving 30 days notice for collective redundancies and by not entering into a period of consultation.” It’ll be interesting to see what comes of the sit-in, bearing in mind the Vita Cortex workers who are in a similar position without any resolution.

      Comment posted on 29/03/2012 at 16:04.
      • Forrest_01
        Member
        Since: Jun 2009

        How can that even be the case when a company goes into administration though?

        There is no way they would know 30 days ahead of time that they would be going into administration! Granted, we all speculated that would hapen for about that period of time, but there was no real way for us or them to know that would happen.

        Comment posted on 29/03/2012 at 17:51.
  6. Foxhound_Solid
    Is a smart cookie.
    Since: Dec 2009

    Wow….

    Comment posted on 29/03/2012 at 18:08.
  7. SH Number 7/Mini-Lipscombe
    Member
    Since: May 2011

    Cunts.

    Comment posted on 30/03/2012 at 04:18.

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