GAME will enter administration within a week

/ 7 years ago

GAME Group will go into administration this week if it doesn’t secure £180 million to pay its creditors, according to The Sunday Times.

GAME reportedly has a £21m rent payment due on Sunday, more than £10m owed in deferred VAT, £40m owed to video game suppliers and a £12m wage bill shortly requiring payment.

In the last few weeks GAME has lost the support of Nintendo, EA, Sega, Capcom, Tecmo Koei, Microsoft and Activision, meaning it hasn’t been able to offer recent releases such as Mass Effect 3, Street Fighter X Tekken and FIFA Street, and won’t be stocking upcoming games including Resident Evil: Operation Raccoon City and Kinect Star Wars.

The retailer said in a statement last week:

“The Board of GAME is working actively to resolve these issues as quickly as possible. This includes ongoing discussions with suppliers, seeking access to the original facility or alternative sources of funding, and reviewing the position of all of its assets in the UK and international territories.

“It is uncertain whether any of the solutions currently being explored by the Board will be successful or will result in any value being attributed to the shares of the Company.”

So, if you’ve got any discounts or vouchers or coupons or GAME points of any sort, now is the time to use them.

Source: CVG


By supporting eTeknix, you help us grow. And continue to bring you the latest news, reviews, and competitions. Follow us on Facebook and Twitter to keep up with the latest technology. Share your favourite articles, chat with the team and more. Also check out eTeknix YouTube, where you'll find our latest video reviews, event coverage and features in 4K!
eTeknix FacebookeTeknix TwittereTeknix Instagram

Check out our Latest Video


One Response to “GAME will enter administration within a week”
  1. Guest says:

    screw GAME they deserve to go into Administration. they werent that good. pricing games too high.

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

  • Be Social with eTeknix

  • Poll

    Who Is Your Favourite Graphics Card Brand?

    View Results