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.
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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.
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