Thu, Mar 29, 2012 | 09:13 BST
Rumour: GAME to exit administration tomorrow with RBS buyout
GAME will leave administration as early as tomorrow thanks to a buyout from an RBS-backed consortium, according to MCV.
If so, it would mean, at least partially, a state-owned specialist games retailer.
RBS emerged as a late frontrunner before the retailer was placed into administration on Monday morning, closing 277 stores and losing 2,104 jobs in the process, with the all of the chain’s Republic of Ireland stores wiped out.
No new updates as regards to the sit-ins happening in the Republic of Ireland right now, although administrators PWC promised an update would drop yesterday.
Comet owner OpCapita and GameStop had also been rumoured for a takeover, with the former placing a bid before it formally entered administration, but was subsequently rejected.
9 comments
#1
humanfish
29/03/12, 8:58 am
OpCapita rejected by RBS, interesting.
Positive news for those still in limbo. Hopefully a few of the closed down stores can come back as indies. Perhaps they could form a collective to improve buying power, but function and operate independently. There must be a viable market for many of the stores that have gone, with the noose of the larger group gone.
#2
pjckmen
29/03/12, 9:19 am
ThanK you Verry Many
Friv
Kizi
Juegos Friv
#3
StolenGlory
29/03/12, 9:20 am
Whilst this seems like good news on the surface of it, we don’t know what the RBS terms could be.
They could quite likely be proper brutal.
Still, it’s certainly more encouraging than no buyer at all being in the frame.
#4
silkvg247
29/03/12, 9:22 am
If they sold tabletop RPG’s, hardcore PC gaming peripherals and gaming collectables such as figurines and plushies, I’d visit quite frequently. It would make them quite specialised, which is possibly the only way they’ll survive.
#5
freedoms_stain
29/03/12, 10:07 am
I’m disappointed tbh, because this likely means nothing will change. They’ll probably keep the exact same business model and even upper management and executives that so ineptly ran the company into the ground.
#6
StolenGlory
29/03/12, 10:12 am
@5
Yeah I was about to say, it’s a good thing that RBS love the product so much otherwise they would be totally shafted.
#7
Xiahou_Yuan
29/03/12, 12:20 pm
@5 and @6 I don’t think they will keep the same policies. I think they will just improve for the sake of it. Also, if keeping the management = keeping the other staff employed then so be it. Nothing is worse than losing your job.
#8
DGOJG
29/03/12, 12:30 pm
Does that mean the closed stores will open again?
#9
earlyrock
29/03/12, 1:11 pm
@8 I doubt it. Part of the reason they got into this situation was because they got too big for their boots at a fast rate. Slimlining the company is probably the best thing for it