Skip to main content

GAME "has two weeks to turn its fortunes around"

Administration possible.

Embattled high street shop GAME "has two weeks to turn its fortune around", according to a new report.

Senior members of the GAME management have been told administration is possible, MCV claims.

The UK trade publication said the first step in this process is the firesale Eurogamer reported on earlier today.

GAME launched a Spring Clean promotion today, offering games, hardware and accessories at heavily discounted prices.

MCV said this was an effort to keep the company alive - something we've heard from our own sources.

GAME has struggled to stock new titles in recent weeks, including the biggest game of the year so far: Mass Effect 3. That omission could cost GAME Group £2.5 million in lost profit.

US giant GameStop reportedly wants to buy GAME's shops in Spain and Portugal - a total of 288 stores. Apparently GAME put its 663-stores overseas operation up for sale by appointing advisers at Rothschild in January.

We understand GameStop is one of a number of companies looking at the struggling shop. Last month GAME managed to convince its syndicate of lenders, led by Royal Bank of Scotland, to relax its debt covenant. But sources said it was running out of patience.

GAME said it does not comment on rumour or speculation.

Read this next