Report: GAME staff told to prepare for administration

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.