GAME officially files for administration
Well, looks like the final nail is being driven into GAME's coffin at an inexorable, torturous, pace. Following weeks of humiliating failures, the UK retailer has finally filed for administration, having been unable to find a way to remain solvent.
The short term plan is for GAME to continue operations while discussing with lenders and third parties under cover of darkness. There is still the chance of a complete purchase by another company, with Wal-mart and OpCapita allegedly interested in taking over. Other reports suggest GAME could relaunch on its own, dropping the chain of GameStation stores. GAME says that it "challenges" such suggestions, though won't be specific.
This year, GAME has failed to stock games from Electronic Arts, Nintendo, Ubisoft, Capcom and Tecmo Koei, with further reports that Microsoft and Activision had dropped support. The company's decline has been rather embarrassing to watch.
I never liked GAME as a company, but it sucks for the people working on the store floors -- the people who always get screwed hardest by the awful business decisions of the powers-that-be. Setup email comments
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