Sounds like it’s just about all over for the Game Group, then, with The Express today claiming that talks between OpCapita and the banks ceasing, and other parties like Hilco withdrawing from negotiations.
MCV reiterates that Game’s rent is due today, and thus is likely to tip the business into administration as early as tomorrow. “GAME is likely to go into administration on Monday,” says the paper, “and the process of selling its assets will begin but this won’t be a pre-pack, where a company is bought immediately out of administration.”
“There was contact between the banks and OpCapita late on Friday in the hope of reviving some sort of deal. The banks felt that selling GAME out of administration would leave them facing a colossal write down on what they invested,” it continued.
If someone like GameStop doesn’t move quickly this could, MCV say, “mean an end to The GAME Group as we know it. And possibly the closure of all or some of the world’s GAME/Gamestation stores as early as tomorrow morning.”
We’ll keep you informed.
Awayze
Closing down sale where everything is £50 or less, pl0x
hazelam
i guess ea and capcom will be happy.
they’re shortsighted and stupid enough to think that because game traded in preowned games them going will benefit them.
of course that’ll leave supermarkets and places like hmv.
that’s good for the top 20 titles, but once they fall outside that, you probably won’t see those games on supermarket shelves any more.
so a shorter shelf life for their games, and places like cex taking up the slack.
and places like cex, don’t stock new games, at least not direct from publishers.
so i’ll be sad to see game go, and i’ll be laughing my arse off when these greedy publishers start, well, they won’t be losing money, but they’ll be making less.
i guess i’ll just have to settle for that.
i think i’d have a few choice words for david bloody braben right now as well.
he picked a perfect time to start his anti preowned bleating.
Lymmusic
Hopefully indie stores can rise from the rubble
bigkingy
Agree more or less with hazel, the thing is I often trade in games I’ve finished for brand new games. Without gamestation, I probably won’t be doing that so the companies will lose out on new sales surely?
skibadee
hope they can fix it & start a fresh I still like going in to my local GAME.