GAME's directors throw in the towel
It is looking like 'game over' at GAME, the video games retailer which has been beset by cash flow difficulties and a reluctance on the part of games publishers to supply it with games for sale.
It is looking like 'game over' at GAME, the video games retailer which has been beset by cash flow difficulties and a reluctance on the part of games publishers to supply it with games for sale.
Trading in the company's shares has been suspended, with the board conceding that, in its opinion, there is no equity value left in the group.
The verdict came after the board had assessed the status of the ongoing and regular discussions between GAME and its lending banks and between its lending banks and a potential third party provider of finance to the business.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The board now considers itself unable to assess the business's financial position, and consequently has asked for trading in the company's shares to be suspended.
jh
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Giorgio Armani: the irreplaceable Il Signore
Giorgio Armani started his fashion business in 1975 and built it into the world’s largest private luxury brand. Where can it go without him?
-
A strange calm in credit
Corporate bond markets remain remarkably relaxed, with yields that offer little compensation for risks