GAME Still Going, For 10 More Days at Least

By Gary Cutlack on at

Troubled high street chain GAME has secured itself a bit of breathing space by voluntarily putting itself into administration, with the group buying another 10 days to put together some sort of emergency salvage operation.

The possible pre-pack administration, a controversial way of ditching debt and keeping the profitable parts of a business running, could see the chain's presence dropped to 300 shops from its current 1,300. With GAME needing to pay its £21m rent bill and a £12m wage bill before the end of the month, it's up against the clock. And the wall.

However, for us punters not relying on a GAME pay packet, there ought to be some good deals floating about. The company's been running a "Spring Clean" series of discounts recently, which has produced some good bargains thus far.

Hopefully the current situation won't end in the chain selling off its shelves and carpet tiles like poor old Woolworths. [Telegraph via Cnet]