Game has set a Friday deadline for first round bids for its overseas business.

As revealed by last week, Game has hired Rothschild to oversee a sale of it loss making international business as it seeks to stem widening losses in a tough games market.

The retailer is also thought to have deferred some payment to suppliers, reported The Independent.

Game confirmed in a Stock Market statement on Thursday that its overseas business is under review. It is not clear if the retailer is aiming to sell all or parts of the business, although sources have told Retail Week it is likely Game will aim to sell the entire international arm.

On Friday Game revealed that its banks had granted it breathing space after they agreed to revise the terms of the game specialist’s banking facilities.

The company now expects loss before tax and non recurring items for the year to the end of last month will be around £18m. The revised support of its lenders means it should now meet its covenant test.