GAME Retail, the UK video games retailer, enters administration after reporting liabilities of almost £16m, according to administrators’ documents cited by multiple outlets. The company’s total liabilities are put at approximately £15.8m. Of this, around £12m is described as owed to unsecured creditors, indicating that a significant portion of its debts is not secured against specific assets. One report adds that GAME Retail formally enters administration on 24 February, with administrators appointed to oversee the process. Both sources link the collapse to wider pressures facing the sector, including a shift toward digital game downloads, intensified competition, and uncertainty associated with Brexit. Taken together, the reporting portrays the failure as the result of financial strain amplified by changing consumer buying habits and market conditions, rather than a single isolated cause. The administration process determines how creditors’ claims are handled and whether any parts of the business can be sold or continued under new ownership.
GAME enters administration owing about £16m amid retail market pressures
GAME Retail, the UK video games retailer, enters administration after reporting liabilities of almost £16m, according to administrators’ documents cited by multiple outlets. The company’s total liabil...
- GAME Retail enters administration after reporting liabilities of about £15.8m (almost £16m).
- Approximately £12m of the liabilities is owed to unsecured creditors.
- GAME Retail formally enters administration on 24 February, according to one report.
- The collapse is attributed to pressures including digital shift to online downloads and increased competition.
- The reports cite wider Brexit-related uncertainty as part of the background to the business failure.
GAME Retail had liabilities of about £15.8m, with around £12m of that total being owed to unsecured creditors.
3 hours agoGAME Retail owed almost £16m when it fell into administration, as it struggled against digital downloads, intensifying competition and Brexit-related uncertainty. Administrators’ documents show that the former high street mainstay had liabilities of approximately £15.8m, including around £12m owed to unsecured creditors. GAME Retail Limited formally entered administration on 24 February, with James Saunders and...
6 hours ago
Tropical Storm Bertha makes landfall in Louisiana, threatens Gulf Coast with flooding and storm surge
Tropical Storm Bertha forms in the Gulf of Mexico and moves toward the U.S. Gulf Coast, where officials warn of flooding...
Neuroscientists explain “tired but wired” sleep problems and suggest strategies
Several reports discuss the “tired but wired” experience, in which people feel sleepy but struggle to fall asleep. The a...
U.S. and Saudi Arabia reach civilian nuclear power agreement allowing uranium enrichment
The U.S. and Saudi Arabia have agreed on a civilian nuclear power deal, the U.S. Energy Department says. Under the arran...