GAME has reportedly filed for administration. Game over?
MCV report that GAME has officially filed for administration. They cite a statement the company has released.
“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 statement reads.
“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.”
There will likely be more to report on their cruel demise in coming hours and days. We will keep you updated.
To all workers affected by current events, we wish you all the best of luck in the coming weeks.