Game could be over for struggling retailer
VIDEO games retailer Game, which has stores in Newbury, could be heading for collapse after suppliers pulled the plug on providing it with new stock.The Northbrook Street store and its sister Gamestation are two of 600 around the country teetering on the brink of closure following an announcement that in order to survive it may have to sell the business.
Game Group PLC, which owns both and employs 10,000 people, said it was in discussion with suppliers and lenders, and was seeking alternative sources of funding, but it was uncertain whether its efforts would be successful.
A spokeswoman for the firm, Natalia Marisova, said: “While these discussions are ongoing, it has not been possible to source new products from a number of suppliers.
“The board of GAME is working actively to resolve these issues as quickly as possible.
“This includes ongoing discussions with suppliers, seeking access to the original facility or alternative sources of funding, and reviewing the position of all of its assets in the UK and international territories. 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.”
The group's quarterly rent bill is due in a fortnight and failure to pay its landlords could push it into administration.