Anybody in Game? Holding a lot of stock purchased at 66.5p p/s.
Any views greatly appreciated.

marky well done to get something - i missed this completely

noticed some chunky buys today - would not be surprised if there was further north movement here today perhaps

i like the improved terms in this article - expect more uplift now.....

By Harry Wallop, Retail Editor

11:00AM GMT 03 Feb 2012

Comment

The company, which has been hit by a drastic slow down in the gaming market, said it would make a loss of about £18m for the year to January 31.

But the shares jumped on news that it had won more favourable terms from its lenders, led by Royal Bank of Scotland. The news came as a particular relief because the bank had caused consternation among many retailers when it refused to throw Peacocks a lifeline.

The shares increased by 1.6 to 6.93p, valuing the company at £24.5m.

The improved terms mean that the company is no longer in breach of its banking covenants, and has enough money to cover its fixed costs – including paying its suppliers and landlords. It is likely that the deal will involve putting its international operations up for sale. The company has more than 600 shops overseas

i wouldnt be surprised to see this turn into another hmv - gmg in far better shape - good coverage at the weekend and new releases imminent:


'Vita demos now available at all GAME and gamestation stores

Sony has announced all 600 GAME and gamestation stores will have PS Vita on hand for consumers to sample in the UK.

The top 150 stores will include a dedicated Interactive Display Unit the coming weeks. Every store manager has been sent a Vita unit to “enable them and their staff to demonstrate first hand just what makes the new PlayStation handheld so special.”

This activity coincides with the current PlayStation Vita Rooms in Glasgow which is currently open until January 29. The next Vita Rooms event in London runs February 17 – 22.

Both the event and the store samplings will off demos of titles such as WipEout 2048, Uncharted Golden Abyss, ModNation Racers: Road Trip, Reality Fighters, Little Deviants and Everybody’s Golf.

PS Vita launches in Europe and the US February 22'

Espirito Santo upgrades GAME Group from sell to neutral, target price raised from 2p to 7p.

Seeing as they are 7p already I suppose he will claim he was right, good call.
I will never understand what use brokers upgrades/downgrades are, if the sp is already at their tp.
2517

It's under 1p now... so cheap

Rumpled that Walmart had approached the company with the view of making a rescue offer.After the close of trade,Game said a third party had shown interest in providing additional funding.

The GAME Group plc ('GAME' or 'the Group')
Suspension from trading


"Further to the announcements of 12 March 2012 and 14 March 2012, the board of GAME has assessed the status of the ongoing and regular discussions between GAME and its lending banks and between its lending banks and a potential third party provider of finance to the business.

The Board now considers itself to be unable to assess the business's financial position, and is of the opinion that there is no equity value left in the Group. Therefore the Company has requested that the listing of its securities on the Main Market of London Stock Exchange plc be suspended from trading with effect from 7:30am today.

The Company will provide a further update in due course."

Suspension from Trading

http://www.moneyam.com/action/news/showArticle?id=4332878

http://www.bbc.co.uk/news/business-17455742

Notice of Intention to Appoint an Administrator
RNS
RNS Number : 7782Z
Game Group PLC
21 March 2012

21 March 2012
Notice of Intention to Appoint an Administrator

"Further to this morning's announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business. The board has therefore today filed a notice of intention to appoint an administrator.

In the short term the Board's intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium."

- ENDS -

OpCapita takeover of GAME all but ruled out

A source close to Comet owner OpCapita has revealed to MCV that a deal to takeover GAME is now very unlikely.

GAME this morning filed for administration and is understood to be preparing to re-launch in a slimmed-down guise under an amended management team.

That’s despite the fact that OpCapita had, as revealed by MCV, tabled a bid that would have eradicated all of GAME’s debts and preserved the business as an on-going concern.

“They put together a fully-funded proposal,” our source stated. “They had the money lined up. They’d done due-diligence, and met the company and the banks. It was ready to go.

“They wanted to operate GAME as a viable business. They’d re-established relationships with suppliers – and they had their support. So it’s slightly strange. The question for the banks now is are they going to pay the suppliers or is this all about the banks not being prepared to take a write-down of their debt?”

Our source added that a deal is still a possibility if talks can be re-established during the current ten-day moratorium period, but admitted this is looking “unlikely”.

However, OpCapita’s original offer was for a pre-administration GAME. Any possible new deal would depend not only on the shape of the company that emerges from the other end of the process, but also the banks’ willingness to re-enter negotiations.

An official OpCapita statement issued to MCV said: “We put forward a fully funded proposal which would have preserved GAME as a viable business in partnership with suppliers who have been very supportive.”

http://www.mcvuk.com/news/read/opcapita-takeover-of-game-all-but-ruled-out/093144

game over!

marky - wish you hadn't been such muppet and had avoided altogether

Game Group goes into administration

Britain's biggest video game retailer, Game Group, has gone into administration.

The group employs about 10,000 staff at its 1,300 stores, 609 of which are in the UK and Ireland.

The administrators from PricewaterhouseCoopers said that the retailer had suffered from high fixed costs and an ambitious international expansion.

Its business has been hit by competition from online-only retailers.

Game on? Game Group shops sold to OpCapita

The administrators of Game Group have announced that the 333 of its UK shops that are still open have been sold to OpCapita.

The agreement will safeguard the jobs of nearly 3,200 Game Group employees.

Investment capital firm set to rescue Game

http://www.bbc.co.uk/news/business-17575500

yep sold for a squid - some people with rose tinted glasses suggest there is value from the international business and something back to share holders - absolutely no way imo - game dont exist as was and likely only thing left in international stores will be a raft of liabilities - i hope folk got out here before it was too late