Sunday Times Reports GAME Now Up For Sale

[drop2]Reuters is reporting that – according to the Sunday Times – GAME has put itself up for sale ahead of upcoming rent payments.

“Struggling video games retailer Game has put itself up for sale,” says the report today, “as it tries to raise cash to pay a quarterly rent bill due in a fortnight.”

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The Times says that Rothschild has “been appointed to find a buyer” and says that if it can’t pay the landlords, GAME could go into administration, with Deloitte lined up to “handle any insolvency process”.

The Sunday Times reports that selling in such a short timeframe “could be a problem”.

The worst part of all this? Sounds like – in one case at least – the staff don’t know anything at all, with another saying they’re having to rely on sites like MCV.

GAME’s share price has plunged to 3.5p, meaning its market value is now just over £15m, says the aforementioned trade magazine.

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28 Comments

  1. Not long for the world it seems. Real shame really, for the staff of all the Game stores and for the public in general. While they tend not to have the most competitive prices, I’ve always enjoyed perusing the shelves, no other shop feels the same to me as a gamer.

  2. Well, I’m sure no-one can honestly say they’re surprised…

    • Even so, GAME’s always had a presence as a retailer. Sure it’s no Woolworths but the principle’s the same.

  3. A sad state of affairs.

  4. Had some great deals on what was left of the pre-owned stock they had when I went into one today, hopefully they’ll need to get rid of the new games at dirt cheap prices soon too.

  5. man I insured my wii with them, I still have 2 years left, whats going happpen

    • It’s with a different company so you’ll still be insured.

      • I was worried about my Vita insurance too. Glad to hear it’s still covered.

    • I’m in the same boat, only with the Vita.
      I’d normally say no to paying for a warranty beyond statutory rights, but as it is an expensive handheld with a giant piece of glass on the front…

      • plastic. =)

      • as I said, if it’s accidental damage cover, it’s a separate country that handles that.

      • Is it?
        That makes me feel better actually.
        Although I’m still not signing up to test it’s durability. :P

      • Just realised I wrote country, I had been drinking, I meant company.

    • Your warrentys are with alliance group. if GAME go under and you accidently break your console (the purpose of the extended warrenty) you would just follow the normal process and call alliance.
      GAME would only replace if it was for manufactural and not if you accidently broke it.
      For manufactural you then contact the manufactures for the standard 1 year warrenty on the product. just keep your recipts.

  6. It was nice to go into work yesterday and my boss to say “I really don’t want us to go into administration” when saying I hadn’t heard about that he quoted he had seen it in MCV, fuck you Ian Shepherd.

  7. Well I’ve spent the majority of the £100 credit I had with them the other day. This is for the best, new owners will bring better practices and hopefully a more successful business. I reckon get on the phone tomorrow and buy some shares they can’t go down any further.

    • Yeah, what can happen, if you don’t buy alot you lose a small amount of money, or get loads. I’ve never done shares but it seems worth it.

  8. It is a shame, as its always good when i go into town, the girls can go to whatever shops they go to, and the guys go to Game and Gamestation. It is enjoyable perusing, but theyre prices have been out of reach since online sites have been successful. I would always like a good pre owned deal, but if i traded things in id always go to CEX as the value was far better…

  9. How many TSA members are there? Anyone want to split the costs and we can change the name etc. The Sixth Axis would be a great shop name and who knows more about gaming than us?

    • lol, i was just talking about this with my mates.
      If i won the big euromillions i could have bought GAME!
      that would be fun, as they relise the buissness model they have been using had its flaws.
      the biggest problem the current GAME buissness has, is that the current people who run it WONT ACCEPT that the model was flawed.

      i feel bad for my friends on the front line.

  10. I was in Game sat spending points and a gift card. The staff were asking whether I wanted to pre order anything? I nearly quizzed him but didnt as he wad having to advise every man and his dog to try hmv for mass effect 3. Another staff member had the mass effect 3 strat guide, he was offering to read out the ending…odd.

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