GAME file for administration

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GAME have filed for administration, although will continue to trade whilst further options are brought to the table regarding its future.

“Further to this morning’s announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business”, the company announced through a statement.

“The board has therefore today filed a notice of intention to appoint an administrator. In the short term the Board’s intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium”.

Our thoughts are with all those affected, here’s hoping that more positive news will follow over the coming weeks.

[Thanks MCV]

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