Thu, Feb 02, 2012 | 10:40 GMT
GAME in “dialogue” to secure lending, may sell-off overseas business
UK retailer GAME confirmed in a statement today that it’s in talks with lenders to secure more funds, following news yesterday that the firm’s credit insurance is in jeopardy.
“In response to press speculation the GAME Group plc confirms that it is in on-going dialogue with its lending syndicate to reach agreement on revised terms for its facilities,” said the company.
“As part of these discussions, the lending syndicate is reviewing a strategic plan of the company which includes a review of its overseas operations. A further announcement will be provided once discussions with its lending syndicate have concluded.”
It was seen yesterday that both MGS HD and NeverDead had been pulled from the GAME website.
MCV reported behind-the-scenes worries as the store chain is facing “challenges” with its credit insurance. NowGamer posted a similar story yesterday.