News

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.

Comments

By novapaddy (SI Member) on Mar 21, 2012
novapaddy
It is always sad to see a company in trouble. Let's hope that it survives in some shape or form, and the employees don't have to suffer too much.
By JonahFalcon (SI Elite) on Mar 21, 2012
JonahFalcon
GAME will be gone after this weekend. If it returns, it'll be a smaller 300 store chain, and will still fire hundreds of employees in surviving stores. It may not even be called "GAME" anymore.