Mon, Mar 26, 2012 | 11:44 BST
Report: RBS set to make last-minute offer for GAME
The Royal Bank of Scotland is set to make a last-minute ditch bid to buy UK retailer GAME according to the Daily Mail’s ThisisMoney, as it prepares to formally enter administration later today.
If true, it would basically mean a stake of the chain would basically be state-owned.
A group of lenders, which are backed by RBS, is aiming to make a play for the battleworn retailer, with any bid expected to be made on a slimmed down business.
The RBS-backed group will roll £85 million of debt into a new company.
OpCapita, the owner of UK electronics firm Comet, and GameStop are also expected to make offers.
PWC, the firm picked by GAME to be its administrator, is expected to announce the closure of stores making a loss later today, with the result being 6,000 jobs lost.
GAME announced last week it would go into administration