Citing sources, the latest report claims that “Gamestation may be sacrificed” as the Game Group decides on the best course of action this week. The article says that there are four avenues under discussion, and that top level meetings happened today.
The first three options – refinancing, a ‘white knight’ investor and total, complete administration – appear to be playing second fiddle to a fourth option: voluntary administration followed by the setting up of a new company and the closure of lots of stores.
“GAME’s current store portfolio will be reassessed and a store closure programme implemented,” says the report. “MCV understands that this will likely mean the end for Gamestation, with the exception of a handful of well-performing stores.”
This is expected to happen on Monday.
However, since publishing the report, GAME have stated that such a meeting didn’t happen today, and that the Group “challenges many” of Parfitt’s claims.
Whether or not these latest revelations are the truth, this so-called ‘fourth option’ seems to hinge on both suppliers and creditors, and whilst – apparently – would result in the loss of lots of stores (and thus, jobs) MCV seem confident this will be the way forward.
But plenty of people are visibly upset by the report. The comments on the article range from acceptance to fury, with some – the most abusive – seemingly being removed by the author, who’s also fielding plenty of questions on Twitter.