GAME Files For Administration

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GAME Group have now confirmed that they have officially filed for Administration.

The company delisted itself from the London stock exchange earlier today and have now made a new statement which confirms they plan to go into Administation:

“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.”

Is this really surprising news following what’s happened with them lately? However, we would love to hear your thoughts via the comment section below.

Source: CVG

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