Report: GAME Out Of Administration Tomorrow

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.

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

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23 Comments

  1. Brilliant news for the ones that are still open but such a shame for everyone else who have lost their jobs.

  2. Yay… hopefully they do well and make some changes that will help them on the long run and have a much better customer experience.

  3. Lets hope that the company can be managed differently this time around.

  4. This is really good news. I hope it give them a kick up the arse and we see a real change in how the company operates.

  5. Let’s hope this deal goes through, and hopefully they will employ some people in the higher managerial positions that understand the gaming market a bit more to help prevent this happening again.

  6. Great news as my local Gamestation is still open. Still a shame that many have lost their jobs.

  7. As others have said, this is great news for the remainder of the company, but a real shame for those that lost their jobs due to nothing more than greed & bad management.

    I am hoping that Ian Shepherd’s departure has kick started a revolution in upper management where they actually learn from their mistakes & work to please the customer ahead of the profit margins. Doubtful, but we can hope.

    Still, as I have mentioned previously, whether you like Game/Gamestation or not, I personally feel that it is really important that gaming has some sort of presence on the high street. The less we are seen as ‘bedroom dwellers’ & ‘hermits’ the better really.

  8. Phew! If nothing else it means I still have somewhere to go when my wife is clothes shopping

  9. The fact they rejected the OpCapita deal does seem potentially suspicious and anti-competitive, but without knowing the terms of the deal that was brought to RBS it’s hard to tell.

    • It might be that OpCapita weren’t prepared to cover the 85m that RBS was owed by Game. RBS said previously that any new owners would have to cover that or else they would probably take over Game themselves.

  10. This is good news surely.

    • It is & don’t call me Shirley.

      • I hope Leslie Nielsen is smiling, wherever he is :P

        On topic: I just hope there is some plan for a change in the business model, or whoever takes over will just be throwing good money after bad.

      • I hope he is too. Freaking loved Leslie Nielson. :)

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