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GAME will close this week without new buyer

19 Mar 2012  by   John Robertson
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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.

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