|Report: UK retailer GAME prepping for administration|
|Posted: 09.03.2012 17:02 by||Comments: 0|
Reports have started coming in that UK videogame retailer GAME has told its management teams that the company could go into administration. Senior staff members were reportedly informed by CEO Ian Shepherd that the company had two weeks to "turn its fortunes around."
As a result, GAME's retail stores have begun fire sales to infush cash into the company.
Major US retailer GameStop has expressed interest in acquiring the struggling retail chain, though it's unclear whether GameStop is interest in completely buying out the company, or merely acquire its international distribution chain.
Regardless, GAME Group is prepping a move into administration, though the company has refused to comment on the company's current and future financial status.