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Future of Game business in limbo
Monday March 12th 2012
The future of a video games company is looking unclear following an announcement that it is struggling and might have to be put up for sale to survive.
The UK-based business Game revealed that it has been unable to secure a range of new products from its numerous suppliers and is currently looking for extra funding to keep it afloat, prompting it to face selling 600 stores, which would see 100,000 employees out of a job.
It is predicted that the retailer could be forced to go into administration if it cannot secure the money to pay for its quarterly rent bill, which is expected in two week's time.
The group is in discussions with its lenders and suppliers but has confessed it is unsure whether the business will retain any value to its franchise, or if it becomes successful in its strategy to continue trading at all.
Profits are set to dip even more for the company as it was unsuccessful in stocking recently released games such as Mass Effect 3 and Street Fighter X Tekken, which have been keenly anticipated by many gaming fans.
Copyright Press Association 2012
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