14 Mar 2012

10 Days to save Game. Walmart has offered a buyout.

According to a few sources, the troubled GAME Group UK has 10 days to sort itself out otherwise administration looms. That makes March 24th deadline day.

It's already been noted that Game are failing to stock major new releases over the coming weeks from Capcom, Nintendo and EA and that their current firesale might not be going too well as customers are using up reward card points to buy rather than cash.

Game have many a prospective buyer with Comet owner Hilco looking to get it's nose in as well as the believed current front runner in US giant Gamestop who don't currently have any UK high street presence, though their online store seems to be doing quite well. Coming out this afternoon however is news that the US supermarket giant Walmart have contacted game to enquire about buying the business. Walmart currently own Asda in the UK and it makes sense for them to try and expand their foothold outside of the US and lets face it, they're not lacking the funds to do it.

Whether this move by Walmart will force Gamestop into making an offer remains to be seen but wither way lets just hope Game is saved before the March 24th deadline as it will mean their many stores will stay open and staff keep their jobs rather than the bleak alternative.

source: MCV


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