Thu, 15 Mar 2012 | BUSINESS SALE
Electricals retail giant Comet has come forward as a potential white knight buyer for embattled video games seller Game.
Turnaround firm OpCapita is thought to be discussing the purchase of Game’s debt and full payment of its debts to suppliers with Game’s lenders including RBS. A rescue deal is considered likely to involve closures of some of its 600 stores in Britain.
Game put itself on the block on Monday amid concerns that it would not be able to meet its quarterly rent obligations at the end of this month. Its lenders had also restricted its borrowing facilities earlier this year.
If Game fails to pay its rent bill it could face being forced into administration, leaving 10,000 jobs across its UK and overseas operations at risk.
Game has a total of 1,270 stores across nine European countries and Australia, with some trading under the name of Gamestation. About 6,000 people are employed in the UK stores.
In a statement Game confirmed that a suitor is exploring providing new funding to the troubled firm. It read: “The third party is seeking a dialogue with the group’s current lenders, however there is no certainty to the outcome.”
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