Game over for struggling retailer

Several of the video game firm's large-scale suppliers refused to provide the latest eagerly-awaited titles such as Mass Effect 3, Mario Party 9 and Street Fighter X Tekken, and now Northbrook Street stores GAME and its sister Gamestation are two of 600 around the country facing closure.
NewburyToday reported on March 13 that the firm was teetering on the brink of collapse after it admitted it may have to sell the business.
Game Group faces a £21m rent bill to be paid by the end of this week and a £12m wage bill at the end of the month, on the back of a plummeting share price.
In a statement issued yesterday, the group said: “Further to this morning’s announcement of the suspension of trading in shares of Game Group plc, the board has concluded its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business.
“The board has therefore filed a notice of intention to appoint an administrator.”
It is thought that internet retailers are largely to blame for GAME's woes as products can be acquired much cheaper online, or through streaming and digital downloading sites.
The company is believed to have lined up accountancy firm Deloitte to handle any insolvency process.