The administrators have been called in to perform the last rites on GAME Group, the video games retailer which crashed and burned in March.
The board of GAME said the decision to pull the plug was taken "after careful consideration and ceaseless interrogation of every possible alternative."
The writing was on the wall for the cash-strapped retailer when reports erged in February that it was having trouble securing supplies of hot new games from publishers who feared they would not get paid should the company go belly-up.
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Less than six months ago the shares were trading above 24p, but went into a tailspin in November when the company warned that revenues were falling off a cliff.
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