UK retailer GAME files for administration

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March 21st, 2012, 23:29 Posted By: wraggster

Fall of high street giant reflects demise of physical gaming.
GAME has been ailing for a while, and rumours of its collapse began in November.
However, it wasn't until last month that the extent of its troubles became clear. There was confirmation that the chain would not be stocking the Nintendo-published Tekken 3DS, and then news that it would miss out on Ubisoft’s entire PlayStation Vita launch title platter.
When EA withdrew its titles, things accelerated and by March 5th talk of administration was inescapable.
Today came the following statement:
"Further to this morning's announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business,” a statement reads.

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