GAME could exit Administration as soon as Tomorrow

A new rumour has surfaced suggesting that by tomorrow, 30th March, GAME could exit administration at the head of a new wave of investment from a group of lenders, led by Royal Bank of Scotland (RBS).

MCVUk is citing sources "close to the negotiations" that say GAME is very close to being officially saved from a full shut down. 277 stores have already been closed, with almost 40 per cent of the work force let go - many with no more than a week's redundancy pay to comfort them.

Some even staged a sit-in to protest this turn of events, announcing on a dedicated Facebook page that even when administrators showed up, staff refused to hand over the keys to the store.

The news of RBS' involvement with GAME has been coming fast and thick in recent days - surprising, since for a while many other companies were considered fore runners. At first it was Hilco and OpCapita, followed by GameStop and Walmart. However, little has been heard from either of the US firms beyond a GameStop executive stating that it was focusing on digital in the UK.

Hilco - a company interested mainly in overseas assets - has been quiet since original rumours surfaced, though Comet owners OpCapita purportedly had an offer turned down by lenders, including RBS.

While tomorrow could see the long standing "specialist" gaming retailer back on its feet, it will need to be revamped and modernised in order to regain profitability. Those changes will indeed be interesting to watch out for, to see which direction the new owners can take it.

Image source: Sit-in Facebook