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RBS a potential bidder for GAME, administrator hopeful that a buyer will be found
by Ben Abbott at 7:34 pm on Monday, 26 March 2012

According to The Daily Mail and the Telegraph, the Royal Bank of Scotland - one of high-street giant GAME’s lenders - is leading a plan to buy a stake in the company after it went into administration earlier today.

What’s more, bids from US chain Gamestop and another from OpCapita are also expected, according to the Mail, which suggests that RBS could roll the retailer’s debt of over £80m into a new company.

As the Telegraph mentions, nevertheless, it is worth pointing out that the retailer’s lenders supposedly turned down earlier offers from OpCapita last week - a move that was quickly followed by the company filing for administration. It is as yet unclear as to why RBS would subsequently make an offer themselves, and the validity of this claim hasn’t been verified at the time of writing.

Elsewhere, CVG reported that PwC’s Mike Jarvis (part of the administration team) is hopeful that a buyer can be found. “We believe that there is room for a specialist game retailer in the territories in which it operates, including its biggest one, the UK,” he said. “As a result, we are hopeful that a going concern sale of the business is achievable.”

Keep your eyes on our news feed for more on GAME’s situation.

Source: The Daily Mail, The Telegraph
- Ben Abbott

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