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GAME steps back from Gadget Shop

by Lisa Foster
The Gadget Shop, which boasts 65 stores, is heading into administration, following the collapse of the buy-out negotiations – the third-party believed to be GAME, according to reports today.

Two individual shareholders, collectively owning 40 per cent of The Gadget Shop, are understood to have blocked the move by founder and chairman Chris Gorman to sell the chain.

While trading has been slow at the chain, The Gadget Shop is thought to have relatively small debts, according to a report yesterday in The Independent. An alternative buyer for the chain is now being sought in a bid to save the retailer.

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