MCV has learnt that senior members of the GAME management teams have been told to brace for the possibility of administration.
Senior staff were told at a meeting with CEO Ian Shepherd earlier this week that the chain has approximately two weeks to turn its fortunes around.
However, hope remains that a deal with a potential suitor – namely, US retail rival GameStop – could yet save the company from closure. Whether this would involve a complete buyout or a sale of part of GAME's international operations cannot be said for certain.
The first step in this process is what has been widely described by consumers and press alike as a Fire Sale at UK GAME stores that kicked off today and has seen stock offered at what are alarmingly low prices.
This is an effort to inject some much-needed cash into the firm and to keep it alive for what could be a valuable few extra days.
However, should a deal with GameStop not be agreed in the coming days then GAME Group is readying a move into administration, possibility with a pre-package acquisition already planned for its would-be suitor.
Whatever the outcome, it is now certain that the sorry saga will soon draw to a close. One way or the other.
When asked by MCV, a GAME spokesperson said that it does not comment on rumour or speculation.