Sections

Rumour – GAME OpCapita buyout hopes crushed by reluctant creditors

Sunday, 18th March 2012 22:05 GMT By Brenna Hillier

The latest business on dit has creditors reluctant to pony up for OpCapita’s buyout of flailing retail chain GAME.

According to the Guardian, insiders claim discussions with OpCapita’s creditors have ground to a halt, effectively ending hopes for the deal, which is on a tight deadline.

OpCapita, which owns Comet, is financed by a group of banks, most notably the Royal Bank of Scotland; a spokesman for the state-controlled financial institution said talks were ongoing.

GAME reportedly owes the Royal Bank of Scotland £45 million. It is also said to have £30 million debts to Barclays, HSBC and La Caixa, and an outstanding £40 million bill with suppliers. Reports suggest GAME’s most pressing concern is an upcoming quarterly rent payment on March 25; if it cannot meet this deadline, it will be forced into restructuring and possibly administration.

Some wags on Twitter have suggested we launch a Kickstarter to raise approximately £180 million required to save the retailer. It’s only 60 times what Double Fine Adventure pulled, right?

Thanks, Suikoden Fan, The Sixth Axis. [image]

Breaking news

4 Comments

Sign in to post a comment.

  1. Yoshi

    So how the fuck does a bankrupt company get a 100+ million pound loan which it now can’t pay off and a common everyday person can’t get a much much much smaller loan which they can pay off? XD WTF

    #1 2 years ago
  2. DSB

    I guess that’s what you call a slow and awkward death.

    #2 2 years ago
  3. nimrod123

    you could also ask how greece can keep getting money they will never pay back.

    the answer: Because

    OT: is anyone really suprised to learn that once they hit trouble that there was almost no saving them?

    #3 2 years ago
  4. STEGUINO

    Its true, i asked the manager in my local gamestation.

    This offer was refused.

    But there is some one else in favour now.

    Game is to close.

    Gamestation is staying open.

    They want to kill the game brand off.

    #4 2 years ago