Game appeals for saviour to avoid collapse

Kasmira Jefford
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STRUGGLING video games retailer Game has put itself up for sale as it scrambles to raise cash ahead of a looming quarterly rent bill and fend off administration.

Game, which hired Rothschild last month to advise on a strategic review of the business, has instructed the bank to find a potential buyer for all of its operations, including its 600 British stores.

Failure to meet its rent deadline in a fortnight could push the group into administration. Deloitte is understood to have been lined up to handle a potential restructuring.

The group, which has issued a string of profit warnings over the past year, was given a lifeline by its banks last month.

The loan, however, has failed to comfort its big suppliers, including EA, Nintendo, and Capcom, who have began to hold back new releases from Game.

Chief executive Ian Shepherd has blamed the group’s deteriorating sales on the lack of console launches.