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GAME stock drops to 0.5p as company looks for buyer

Stock in troubled retailer GAME has dropped to an all time low of just 0.5p, following news that it has given itself two weeks to find a way out of its current blight.

In an effort to raise some cash the retailer has been having a Spring clearance, with pre-owned titles going for as low of £0.48p, however it seems that the only way forward for the company may be if a competitor comes in with a bid to buy the ailing retailer.

News of the new twist in the companies fortune comes via The Sunday Times, which stated that GAME has “put itself up for sale as it tries to raise cash to pay a quarterly rent bill due in a fortnight.”

According to The Sunday Times, Rothschild has “been appointed to find a buyer” and if this doesn’t happen in time then Deloitte are already lined up to “handle any insolvency process”.

It’s at times like these that we wish all those in employment at GAME the best of luck. Up to 10,000 employees could be affected if GAME was to go into liquidation.

Edited On 12 Mar, 2012

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