12 March 2012

Game Group about to hit the bottom

Yeah those days are long gone. Today they are at 0.83p.

So they decided it's time to throw the towel. If you have some money laying around you can always buy them.

This is the statement they released today:
"Further to Game's announcement of February 29 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, and to meet its revised strategic plan.

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."

Oh. And they have two weeks to sell most of their stores to pay the quarterly rent bill. Time is ticking.

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