GAME will close this week without new buyer
UK videogame retailer GAME Group may find itself in administration this weekend if they fail to find new money to cover property rent and wages. That’s according to a report in The Sunday Times, which says that the company owes roughly £33 million in rent and wages.
In total, £180 million is owed to its creditors while a further £10 million is owed in VAT and £40 million to suppliers.
No potential lenders have stepped forwards as of yet, which is perhaps not surprising given the retailer posted losses of £51.5 million for its last financial year.
In the past few months, GAME has found it difficult to stock the latest releases. EA titles such as Fifa Street and Mass Effect 3 were (and still are) absent from their shelves, as are Capcom titles such as Asura’s Wrath and Street Fighter x Tekken.