Royal Bank of Scotland tables GAME bid, papers claim

It appears to be a day of conflicting newspaper reports, with The Sunday Times reporting that RBS has offered to buy GAME out of administration.

It follows a report in The Express, which says the deal to save GAME has collapsed.

The Sunday Times writes that the state-owned bank is leading a consortium of the firm’s existing banks to buy the entertainment retailer out of administration. However, the suggestion that GAME might merge as a state-owned retailer remains somewhat dubious.

According to the paper, GAME will go into administration tomorrow, allowing it to be restructured. There are three bidders interested in the slimmed-down GAME Group, reports The Sunday Times – RBS, OpCapita and GameStop

The RBS-led consortium wants to roll the existing debt of 85m into a new company of smaller stores.

GAME’s new restructure requires support from suppliers to re-stock the retailer so it can become a profitable ‘phoenix’ company. Restructuring specialist GA Europe is overseeing the restocking.

About MCV Staff

Check Also

Time is running out for nominations for MCV Women in Games 2023!

Nominations for the MCV Women in Games 2023 awards show will end later this week