In a desperate attempt to prevent financial collapse, GAME has gone up for sale, hoping to raise the money needed to stay afloat.
With a quarterly bill for rent due in two weeks, the company could face going into administration if they are unable to meet their payments. Failure to do so would be devastating for the company who employ 10,000 people and have 600 stores in the UK alone. An advisory firm have been brought in to help the company find a buyer but a spokesperson for the firm has stated that doing so in such a short time frame would be a difficult task.
GAME are already mentioning losses for the year to the end of January will be nearly €20 million.
It seems like this isn’t the year for the huge retailer as news broke only days ago that the company would not stock guaranteed smash hit Mass Effect 3 after deals turned sour with publisher Electronic Arts leaving customers annoyed that their pre-orders were cancelled. On top of that it is also being reported that the stores have also lost the rights to sell Street Fighter x Tekken too!
Today’s news is not the first of its kind either, with fellow video game retailer GameStop closing branches of its chains in Northern Ireland and the UK in an effort to cutback on costs and focus on the development of a larger online service.
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