GAME (UK) has fallen on some hard times recently. It was reported recently that the UK based retailer has already stopped selling certain games (Such as Capcom titles), with big news that Mass Effect 3 is officially not being sold by the company due to financial strains. If you thought things were looking bad before, they are about to look alot worse.
News has surfaced, today, that the company needs to raise a staggering £180 million (which is roughly $269 Million AUD) in just one week, or else they will face going into administration. The struggling company will need to pay £21 million in rent payment by next Sunday, as well as a £12 million in wages. GAME also owe their suppliers, the banks and the VAT (much like the Australian GST) well over £150 million. With only one week to come up with the money, and no clear solution of how to obtain it, it is easy to say things are looking grim.
Without the money, GAME will, no doubt, go under. It has been speculated that the retailer is looking to sell, but with things going this badly, it's no surprise that there are, as of yet, no potential buyers looking to take over. GAME Australia has, so far, not shown any sign of financial troubles.