Report: GAME staff told to prepare for administration

Friday, 9 March 2012 15:44 GMT By Johnny Cullen

MCV‘s reporting that senior staff at GAME have been told to prepare for the potentiality of going into administration.

Senior reps were told in a meeting this week by CEO Ian Shepherd the store has about two weeks to turn its fortunes around.

The only way now to stop it entering into administration is if a buyout came from somewhere like US retailer GameStop, as previously rumoured. GS was reported to be interested in GAME’S Iberian arm yesterday morning.

GAME is also holding a firesale right now to get rid of sitting stock, including hardware, which could stave off administration for a short while.

However, if a GameStop deal or the firesale doesn’t work out, its thought it has already organised a pre-package acquisition for a potential buyer.

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