|Game Group suspended from stock exchange|
|Posted: 21.03.2012 08:02 by Jamie Davey||Comments: 2|
The Game Group has requested that it be removed from the stock exchange because there is no "equity value left in the Group".
The firm issued the following statement:
"Further to the announcements of 12 March 2012 and 14 March 2012, the board of GAME has assessed the status of the ongoing and regular discussions between GAME and its lending banks and between its lending banks and a potential third party provider of finance to the business.
"The Board now considers itself to be unable to assess the business's financial position, and is of the opinion that there is no equity value left in the Group. Therefore the Company has requested that the listing of its securities on the Main Market of London Stock Exchange plc be suspended from trading with effect from 7:30am today.
"The Company will provide a further update in due course."
GAME has been struggling to survive for the past three months, with bad news hitting daily about suppliers not be able to provide the store with new releases such as Mass Effect 3, FIFA Street and many more.