A number of companies are being linked with a buyout of Game Group after the nation's largest specialist videogame retailer filed for administration yesterday. Retail Week (via MCV) reports that "five or six" companies are circling Game, which put itself into administration, giving it ten days to keep creditors at bay while it finds a buyer. More >
Trading to continue amid ongoing discussions with lenders.
3Game Group rescue packages detailed. Game Group's board has presented interested parties with four potential next steps for the retailer after a period of consultation with Game's major suppliers and a financial specialist. More >
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Shares close at 2.39p as further store closures loom.
1Game Group has begun the process of closing down 35 of its 610 UK stores, and is notifying customers in writing that their local store is closing its doors. A Eurogamer reader sent in a letter confirming the closure of Game in Bracknell, Berkshire, with the company pointing him towards his local Gamestation. Forum posts have also confirmed closures in Hull and Wrexham. More >
6Game Group's chances of survival appear to have slimmed further after reports claimed lenders had turned down a private equity firm's rescue bid for the beleagured videogame retailer. Last week OpCapita, a retail salvage specialist which recently bought ailing electronics retailer Comet for £2, offered to buy Game's debt from its lenders and settle accounts with suppliers, giving a glimmer of hope to the nation's largest specialist videogame retailer which had put itself up for sale in a bid to meet its quarterly rent bill and avoid slipping into administration. More >
1Game Group has confirmed that it has been approached by a third party, believed to be retail salvage specialist OpCapita, about helping the UK's largest specialist videogame retailer avoid administration. Yesterday The Times reported that OpCapita - which bought another struggling UK chain, Comet, for £2 last month - had offered to buy Game's debt from its lenders. In a statement, the retailer confirmed that preliminary discussions had taken place - but warned that there was no guarantee of a reversal in its fortunes. More >
Ailing UK retailer Game Group has reportedly lost the support of Microsoft and Activision. The news comes from a leaked memo, passed to MCV, in which the retailer admits it will not be stocking Activision's Cabela Big Game Hunter 2012 or Zhu Zhu Babies or Microsoft's Kinect Rush: A Disney/Pixar Adventure. More >
US retail chain Walmart has contacted Game Group about a possible acquisition of the ailing UK retailer, according to reports. MCV claims that Walmart has made contact about a buyout, in contrast to GameStop, which is reportedly waiting for Game to go into administration with a view to picking up the UK's largest specialist videogame retailer on the cheap. More >
Embattled UK retailer Game Group will not carry stock of Kid Icarus Uprising when it is released next Friday. Nintendo has confirmed to HMV that Uprising, the first 3DS game from Smash Bros creator Masahiro Sakurai, will not be available through Game, Gamestation, or their respective websites. More >
1Electronic Arts gave "extra support" to UK retailer HMV for the launch of Mass Effect 3 last week, according to reports. Retail Week - via MCV - claims that EA gave HMV a boost after Game Group chose not to stock Mass Effect 3 because the publisher refused to relax its credit terms. More >
Floundering UK retailer Game Group has received more bad news this morning with the confirmation that Tecmo Koei will not be supplying it with copies of two upcoming releases. In a brief statement on its website, the publisher confirms that neither Ninja Gaiden 3, released on March 23, nor Warriors Orochi 3, due a fortnight later, will be available from Game, Gamestation or their respective websites. More >
1Two firms have today been linked with buyouts of the assets of beleaguered UK retailer Game Group. The Financial Times reports that Hilco, a retail restructuring group that has previously dealt with the likes of HMV Canada, Woolworths, Littlewoods and Borders, is reportedly looking at Game's international assets, including its stores in Spain, Portugal and Australia. More >
Embattled UK retailer Game Group will be stocking PS3 vehicular shooter Twisted Metal when it is released on Friday. Publisher Sony confirmed the news to Eurogamer in a brief statement. It's rare good news for Game, which following the loss of its credit insurance last month has been without stock of new titles from Nintendo, Capcom, Ubisoft and EA. More >
2Electronic Arts CEO John Riccitiello has told investors that the closure of embattled UK retailer Game Group, which over the weekend put itself up for sale in a last-ditch bid to avoid administration, is "all but a certainty." More >
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Retailer struggling to meet rent bill due in a fortnight and admits efforts to save itself may fail; share price dips below a penny.
7US retail chain GameStop has reportedly expressed an interest in buying troubled UK retailer Game Group's Iberian operation. The Independent reports that GameStop, which has apparently distanced itself from speculation linking it with an outright takeover of the troubled company, is keen on Game Group's 291-store portfolio in Spain and Portugal. More >
1UK retailer Game Group has seemingly lost the support of Capcom, confirming that it won’t be stocking Street Fighter X Tekken and Asura's Wrath when they launch this Friday. More >
3The board of directors at troubled retailer Game Group are reportedly considering closing the business to avoid insolvency. The claim comes from UK paper The Daily Express, which cites a "source close to the situation" as saying the board doubts whether the company can survive the coming trading season and is considering cutting its losses now. More >
1Following the credit dispute between Electronic Arts and Game Group, the publisher has provided details of where else its games will be available for customers who pre-ordered at Game or Gamestation. More >
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