Dramatic Week for GAME as Shares Bounce and Vultures Swoop

There's a lot of drama surrounding GAME Group as it faces its toughest week yet. Following news that the specialist retailer has to magic up £180m before rent is due on Sunday, share prices have fluctuated, potential saviour OpCapita has appealed to Royal Bank of Scotland to accept its buyout proposal and rival companies are reportedly itching for any post-administration IP grab.

First, the shares. GAME's price opened at 2.5p a share this morning, after having closed on Friday at 3.072p last week. Just ten minutes after the markets opened however, that price sank to 1.6p. It has since bounced to 2.76p. Among the things that GAME Group needs right now, a rollercoaster market ride is probably bottom of the list.

Elsewhere MCV reports that OpCapita, the owner of Comet that has made a play for the flagging retailer group, has been putting the heat on RBS to "enter into a meaningful conversation" about potential buyouts. Apparently, both OpCapita and GAME believe that the bank is 'dragging its heels' on a rescue plan.

Finally, as GAME coule be facing its final days ahead of administration, a report suggests that retailers and suppliers are making preparations to acquire GAME's assets should they be be placed on sale. Existing stock, IP and even offices could be up for grabs.

Source: MCV