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GAME Group suspends itself from stock exchange

Wednesday, 21st March 2012 07:47 GMT By Patrick Garratt

Shares in UK retailer GAME have been suspended from the LSE pending “clarification of the company’s financial position”.

In a statement today, the comapny said: “Further to the announcements of 12 March 2012 and 14 March 2012, the board of GAME has assessed the status of the ongoing and regular discussions between GAME and its lending banks and between its lending banks and a potential third party provider of finance to the business.

“The Board now considers itself to be unable to assess the business’s financial position, and is of the opinion that there is no equity value left in the Group. Therefore the Company has requested that the listing of its securities on the Main Market of London Stock Exchange plc be suspended from trading with effect from 7:30am today.

“The Company will provide a further update in due course.”

If reports yesterday are to be believed, the UK retailer is almost certain to enter administration this week, although details of a plan to save around half of the group’s stores under a different name emerged last night.

GAME has struggled financially for months.

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4 Comments

  1. STEGUINO

    bye game, hello some new name,

    #1 2 years ago
  2. silkvg247

    Nooo.. my £10. :(

    #2 2 years ago
  3. BraveLilCrumpet

    @2 – I lost £10 too. Morons

    #3 2 years ago
  4. G1GAHURTZ

    This mostly happens before a company completely crumbles…

    Mostly.

    #4 2 years ago

Comments are now closed on this article.