Game Group administrators on brink of selling off overseas operations

After the closure of 277 branches of Game and GameStation across the UK and Ireland, Game Group administrator PricewaterhouseCoopers has claimed it is close to securing a deal to sell off the company's overseas operations.

Speaking to The Telegraph, PwC's Mike Jevis said it was all now a question of time.

"We just need a bit more time to push the deal over the line," said Jervis.

"There is a huge amount of complexity in the Game situation, because of the technology involved and the extent of the overseas portfolio."

As for the firm's UK operations, trade magazine MCV has published a list of all the outlets closed to date.

The rest of the company's former 600 stores will remain trading for the time being, with PwC having secured a 10 day period of protection from creditors.

It's likely these stores – which look to represent one Game or GameStation outlet in most major towns and cities – will be used to shift the rest of the company's remaining stock during that period.

Longterm, the pressure is on to secure a deal before that window ends, with GameStop, OpCapita, and Hilco apparently the current front-runners.

A lender offer led by RBS, which would see a debt-for-equity swap for the Game Group's stores, apparently remains a plan B.

You can read our take on just what let to the demise of the games retail chain here.

[source: The Telegraph]