GAME Out Of Administration Tomorrow

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GAME will most likely exit administration as early as tomorrow, with a deal from RBS apparently set to kickstart the company back into life.

Although the bank-led consortium failed to accept OpCapita’s offer, which led to the massive job losses and store closures that we’ve all seen since Monday, it seems likely that the publicly-owned lender will be the ones behind the deal.

The official GAME Twitter account has mentioned that reward point cards are now being accepted again (assuming you didn’t flog yours to ShopTo), although currently it’s just against pre-owned stock as the administrators start to figure things out.

“Your Reward Cards have now been reactivated by the Administrators for redemption against pre-owned stock,” said the account. “This means that points can be earned on all products AND redeemed against pre-owned items as of now.”

“This only applies to Reward Cards only, at present moment.”

The same Twitter account also says that the website should be back “soon”.

The GAME website is back up now anyway. What about Gamestation?

Perfect Jack wrote:

The GAME website is back up now anyway. What about Gamestation?

they never shut anything everything has stayed the same for them

they never shut anything everything has stayed the same for them

The guy who brought Comet for £2 when they were in trouble has brought GAME.

No he hasn't, he has BOUGHT Game. (no 'r' Bosch) .

boschbourne06 wrote:

Perfect Jack wrote:

The GAME website is back up now anyway. What about Gamestation?

they never shut anything everything has stayed the same for them

they never shut anything everything has stayed the same for them

Has it? Because my local Gamestation has closed.

GAME here closed but Gamestation stayed open..

Perfect Jack wrote:

boschbourne06 wrote:

Perfect Jack wrote:

The GAME website is back up now anyway. What about Gamestation?

they never shut anything everything has stayed the same for them

they never shut anything everything has stayed the same for them

Has it? Because my local Gamestation has closed.

might have failed to pay the rent on there store or wasnt doing well in your highstreet but no gamestations closed because of administration.

Probably failed to pay rent or didn't do well enough. Hope it re-opens though Gamestation shits all over Game in my opinion.

The Guy Bought GAME For A £1

we have 2 games in bluewater one upstairs one otherside upstairs which was fucking stupid but ones shut ones stayed open and gamestation in town remained open but got like no stock only old stuff

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After a bit of flirting, OpCapita got its man. Administrator PwC has confirmed that the Comet owner has bought GAME UK.

Well, more specifically Baker Acquisitions Limited bought GAME UK, but advisors OpCapita pull the strings. The news means that all of GAME's UK assets, including the 333 GAME and Gamestation stores that are currently open, will remain so.

Now out of administration, GAME will be provided with the money it needs to "trade on a normalised basis" with nearly 3200 jobs saved, according to Baker Acquisitions. There are no plans for any further store closures.

In addition to this, Baker will also seek to re-employ a "small number" of staff made redundant from GAME's head office last week.

Although the exact terms of the deal were not revealed, it is thought that GAME UK was purchased for just £1. That may seem like nothing, but any buyer has to take on the company's debts, no less than £85 million, hence the cheap price.

Still though, it's odd to think that the next game you buy at GAME could cost up to fifty times the price of the company itself.

In the cold, hard terms of an administrator, PwC partner Mike Jervis said, "This means that the GAME brand will not be another one of the retail names disappearing from the high street in the current difficult climate."