Mon, 12 Mar 2012 | BUSINESS SALE
Directors of high street video game chain, Game, have put it up for sale in a frantic bid to raise enough funds to keep the company trading.
The retailer, which has 600 stores throughout the UK, has been asking suppliers for more generous trading terms, but has already encountered difficulty sourcing new products from a number of suppliers.
The business, which employs some 10,000 people, must try to find a buyer before the end of the month, when its quarterly rent bill is due.
A company spokesman said that they were currently engaged in “ongoing discussions” with the suppliers of lucrative new releases, having already been denied the right to sell games including Mass Effect 3, Mario Party 9 and Street Fighter X Tekken.
“The board of Game is working actively to resolve these issues as quickly as possible,” the spokesman said. “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.”
Industry publication MCV has reported that Game’s chief executive, Ian Shepherd, has warned employees to brace themselves for the possibility of administration.
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