GAME and Gamestation having a "firesale" on pre-owned stock

March 8th, 2012, 00:31 Posted By: wraggster

GAME and Gamestation are having a "firesale" on pre-owned stock.The struggling high street shops, owned by GAME Group, are heavily discounting pre-owned games.Gamers at HotUKDeals.com have compiled a list of pre-owned games with eye-catching prices, including Forza 3 for £1.98, Bulletstorm pre-owned for £2.98, and Brink pre-owned for £2.98.GAME is selling Killzone 2 pre-owned for 48p. Gears of War 3 pre-owned is £12.98.Catch them while you can.Why has it done this? Eurogamer has been told by a source close to GAME that stores have put pre-owned on sale "to shift stock".Last month GAME managed to convince its syndicate of lenders, led by Royal Bank of Scotland, to relax its debt covenant. But sources "close to the State-owned bank" told The Express it was running out of patience.GAME Group was last week forced to issue a note to shareholders in an attempt to calm concern over its ability to stock new games. Its current stock issue with EA, which means it won't sell Mass Effect 3, FIFA Street, Tiger Woods 13 or The Sims Showtime, is "temporary", and both parties are working to make sure it doesn't happen again, GAME said.GameStop was reported to be ready to buy GAME, but Eurogamer was told by a source that the US giant is one of several interested companies, buoyed by GAME's recent success with the launch of PS Vita in the UK.GAME is apparently seeking more money to help it continue trading, but if fails, its banks will seek a buyout rather than a closure.GAME Group is a PLC, and so is legally required to declare to the stock exchange any serious discussion regarding a potential buyout.

http://www.eurogamer.net/articles/20...re-owned-stock

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