GAME - Company Enters Administration | Gamerillaz

GAME – Company Enters Administration

GAME – Company Enters Administration
 

The GAME Group board has announced that the company will officially enter administration. This news follows moves this morning to cease trading in shares of the company on the stock exchange. The retailer issued the following statement:

“Further to this morning’s announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business,”

“The board has therefore today filed a notice of intention to appoint an administrator. In the short term the Board’s intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium.”

As of the time we publish this news GAME and Gamestation stores are continuing to trade.

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