It's certainly been a long time coming, but the GAME Group have this morning announced that they are going into administration; where this puts employees of the company, or whether anything will be salvaged has yet to be seen. This is further to the news that the company was delisted from the London stock market. A spokesperson said there was "no equity value left in the group."
An administrator will be brought in to value the company's assets (including child store Gamestation) and decide whether selling those assets could save any faucet of the company. At this point, it seems unlikely that much, if anything, will be saved, but this is likely to be announced rather quickly. If it's anything like Woolworths in 2009, the company may be bought out for a ridiculously cheap price and continue trading, either by its current owners or through a different group.
Whatever happens, things are going to massively change for the company over the coming weeks.
