Concern about the future of computer entertainment specialist Game has intensified after the retailer acknowledged doubts over its future, and the business may well be worthless.
Game has been hit by supply problems after being unable to strike terms with developers such as EA and is locked in discussions with lenders about its financing.
The retailer reported this morning: “The board of Game is working actively to resolve these issues as quickly as possible.
“This includes ongoing discussions with suppliers, seeking access to the original facility or alternative sources of funding, and reviewing the position of all of its assets in the UK and international territories.
“It is uncertain whether any of the solutions currently being explored by the board will be successful or will result in any value being attributed to the shares of the company.”
The Sunday Times reported that the computer games specialist has put itself up for sale as it scrambles to pay its quarterly rent bill which is due in the next two weeks. Rothschild has been appointed to find a buyer, while Deloitte’s services have been sought to deal with an insolvency, including a possible pre-pack administration.