Supplier unease over GAME could have mass effect
The future of GAME, the struggling computer video games retailer, was thrown into doubt as the company confirmed that it has not been able to source new products from a number of suppliers while its talks with its bankers drag on.
The future of GAME, the struggling computer video games retailer, was thrown into doubt as the company confirmed that it has not been able to source new products from a number of suppliers while its talks with its bankers drag on.
"Further to GAME's announcement of 29th February 2012 and recent press speculation, the group confirms that it remains in discussions with its suppliers and lenders in relation to terms of trade that allow the business to operate within the facility provided by its banking syndicate, as announced on 3rd February 2012, and to meet its revised strategic plan," the company statement said.
At the end of February GAME confirmed it was having "supply issues" with US publisher Electronic Arts, and would not therefore be able to fulfil orders for hot new game Mass Effect 3.
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
Not surprisingly, the board of GAME is anxious to conclude these discussions as soon as possible. However, the statement ominously notes that it is uncertain whether any of the solutions currently being explored by the board will be successful or will result in any value being attributed to the shares of the company.
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.
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoid
A couple faces a substantial stamp duty bill after trying to reduce the amount they owed
-
How to get a guaranteed income in retirement
Savers want certainty in retirement, with almost two-fifths naming guaranteed income as their main priority. An annuity can achieve this – but what other income options are available to supplement it?