Comet bid for Game Group now less likely
Posted: 21.03.2012 15:50 by Comments: 1
OpCapita, the owners of retail outlets such as Comet, have revealed today that a deal to takeover GAME is now "unlikely".

The company was reported to have made a bid for the company that not only would have eradicated the dying company's debt, but also maintained it as an viabl business. However, a source close to MCV has now all but ruled that out.

“They had the money lined up. They’d done due-diligence, and met the company and the banks. It was ready to go."

It's being reported now though that GAME is going to re-launch as a smaller company, and that a buyout deal is now unlikely.

Game Group today filed for administration, which comes with a ten-day moratorium period in which they can find a buyer and come to a deal.
Source: MCV
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By herodotus (SI Herodotus) on Mar 22, 2012
Looks like it may just close it's doors rather than downsizing or re-inventing itself as a small business - they don't last long these days.