The story of retailer GAME's problems is nearly at an end, with the company having officially filed for administration. It will continue to trade while the process gets underway.
A statement from the company reads: "Further to this morning's announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that 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 today filed a notice of intention to appoint an administrator.
“In the short term the Board's intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium."
This comes following GAME's delisting from the London Stock Exchange. It is thought that the company is splitting up its operation to enable a new venture to be launched.
Good luck to all GAME Group employees.
Source: MCV
A statement from the company reads: "Further to this morning's announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that 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 today filed a notice of intention to appoint an administrator.
“In the short term the Board's intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium."
This comes following GAME's delisting from the London Stock Exchange. It is thought that the company is splitting up its operation to enable a new venture to be launched.
Good luck to all GAME Group employees.
Source: MCV
Companies:
Game
Read More Like This