Wednesday, 21 March 2012

The situation at Game, pt 3

Normally I was waiting to write these posts on the Sunday evening but with things happening so quickly I'm also going to write this mid-week post.

Well, where to start.

Since my last post on Sunday there have rumours that Gamestation would be sacrificed to keep the Game stores open, supplier meetings happening and not happening, depending on what/where you read, offers on and off the table etc.

What has happened is that this morning Game requested to suspend trading of it's shares due to being 'unable to assess the business’s financial position, and is of the opinion that there is no equity value left in the Group.'

Shortly afterwards Game filed for administration which will either spell the beginning of the end of Game as we currently know it or the complete end of the company. Game essentially now have ten days to sort itself out. Either way, Game as it currently stands will most likely not be as it is now in a couple of weeks, especially if it's to be believed that the OpCapita deal is all but dead.

One small piece of good news for the staff is that they should be getting paid soon.

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