UK video game retailer aptly names "GAME" has filed for the British equivalent of bankruptcy.
A statement regarding the company's status has been released by MCV:
"Further to this morning's announcement of the suspension of trading in shares of GAME Group, 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," a statement from the company reads. "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."
There is an option to drop about 300 stores and essentially rebuild the company from the ground up, but this I personally don't see this happening.
For more updates, check back with us to see any more from the fallout. If you want to be the first to hear it, head on over to MCV. They are at the pulse of this story.
No comments:
Post a Comment