UK retailer GAME files the intention to appoint an administrator, even if it will continue operating "as normal" while discussing possible solutions with lenders and 3rd parties.
The news follows the suspension of trading in GAME Group shares.
Reportedly Comet-buyers OpCapita made an offer to buy GAME (and take on £100M of debt), a bid rejected by GAME lenders.
Earlier this week the UK Press Associated reported GAME owes creditors, suppliers and banks something around £180M-- a sum it has to raise in a week-- as well as £21M in rent payments and £12M in wages.
GAME's woes started after leading companies (including EA, Nintendo, Microsoft, Tecmo Koei, Capcom and Activision) started refusing to supply Game with awaited new titles such as Mass Effect 3, following concerns over creditworthiness.
