BREAKING: GAME Suspends Shares

nofi 15 Comments

Looks like GAME have pulled their shares and suspended trading. The company says it considers there was no longer any equity value left in the Group.

“Further to the announcements of 12 March 2012 and 14 March 2012,” says the statement, the board of GAME has assessed the status of the ongoing and regular discussions between GAME and its lending banks and between its lending banks and a potential third party provider of finance to the business.”

“The Board now considers itself to be unable to assess the business’s financial position, and is of the opinion that there is no equity value left in the Group. Therefore the Company has requested that the listing of its securities on the Main Market of London Stock Exchange plc be suspended from trading with effect from 7:30am today.”

“The Company will provide a further update in due course.”

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15 Comments

  1. So, what does this likely mean then? It really is the end for GAME or a buyer is ready to take over?

  2. It means those of us who sold our shares last night got out in time :)

    • Judging by the “:)” at the end that you did? :P

    • Did you make any money from it or had the shares bottomed out in price again? I was tempted but didn’t want to risk it in the end.

    • By ‘last night’, you mean before 4.30pm of course?!

  3. Phew! I was tempted but didn’t like the short term risk. I’ll stick with my long term options instead.

  4. I’m off to GAME today to go and trade in a few games and spend all of my GAME card credit.

    • Are they even open? I was going to do the same, but am curious now as to what this means for the high st stores.

      • Yeah, they continue to trade for the moment.

        If the last week or two is anything to go by, the staff won’t know any different anyway!

  5. GAME OFFICIALLY FILES FOR ADMINISTRATION: http://www.mcvuk.com/news/read/game-files-for-administration/093137

    • Oh, bad times! :(

      I mean, we ahve all seen it coming, but its sad to actually read.

      • This might actually be good for them. Gives them breathing space with creditors and allows them to restructure and shed off any parts of the company that are loss makers.

        Or it might mean they go under. I guess we’ll have to wait and see!

      • Yeah, i suppose it is a bit of a ‘see-saw’ situation (as in it could tilt either way) – Hopefully someone will come to their rescue, as i think it is really quite important that gaming has some presence on the high street.

  6. Going going gone.

  7. So its official then… gaming is now the domain of online retailers and supermarkets.

    So much for buy and trade. None of my HMV or supermarket outlets offer that service.

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