Monday, March 12, 2012

GAME just one step away from administration

UK retailer, GAME, is down to its last hand, and has put itself up for sale in a bid to stave of administration.

The company is just two weeks away from what might be the end, according to a report at Yahoo! News. At this stage it won't be able to make its rent payment, and that could be the final straw.

The company was previously denied the sale of Mass Effect 3 by EA, Mario Party 9 by Nintendo and Street Fighter X Tekken by Capcom, on the grounds that the publishers were unwilling to extend credit further to GAME.

This news could have massive repercussions for the entire global gaming industry. In the UK 10,000 jobs are on the chopping block, and it's very likely that GAME owes all the major publishers substantial amounts of money.

GAME's demise would also mean the UK is left without a major gaming retailer, which would have significant impact on the publisher's ability to turn a profit in the UK.

Fingers crossed the company can find a buyer, then.
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