GAME Australia Considering Third-Party Buyout
As we are sure many of you are already aware, GAME Australia went into voluntary administration last week.
As we are sure many of you are already aware, GAME Australia went into voluntary administration last week. Their chain in the U.K. also saw its own time in administration just a couple of months ago, which means that their situation as a corporate entity may be far more dire than we had at first expected.
In any case, Princewaterhouse Coopers has received some preliminary offers for GAME Australia.
“Despite the very challenging circumstances facing the retail sector, we have received various expressions of interest for parts of the business, including a number of parties expressing interest in the business as a going concern,” said administrator Kate Warwick.
“We are currently exploring the possibility of achieving a continuity of the business as a going concern with the company’s many landlords, who appear pivotal to any continuation,” she continued.
A decision regarding these third-party offers is likely to come before the week closes.