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GAME to create new company, sacrifice Gamestation

A new report has emerged from MCV, which suggests that GAME will enter voluntary administration on Monday, with a plan to open a new company with less stores.

According to the site, this would then see 300+ stores in total across all regions, removing the need to manage multiple stores in each town. Because of this, all Gamestation stores, except the highest performing, would be shut down.

Apparently, a new company is scheduled to be created on Monday, following the removal of The GAME Group from the Stock Exchange. UK and Spanish branches are the only ones affected, with “all other international operations” being “cut off and told to fend for themselves”.

“If everyone commits it’s great news,” MCV was told. “A GAME with 300+ stores is what we’ll all get, which is basically where they should have been three years ago during the peak. There’s no need for two, or even three, stores in the same town or city.

“They get a chance to reduce debt, keep trading and work out a plan for a new owner without so many financial and lease millstones around their necks.”

It is still possible that GAME will shut down entirely on Monday if the company does not secure the deal it needs.

We’ll keep an eye on this story are it develops.

Edited On 20 Mar, 2012

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