RBS to Rescue Game from Administration Today

Yesterday, MCV revealed a source close to negotiations surrounding GAME was certain the retailer is set to exit administration as early as today. While many have speculated that Gamestop or OpCapita would sweep in to close a deal with GAME, it will actually be RBS-led bank consortium. RBS was originally set to be the favourite to acquire the retailer. This is all occurring in spite of the chain receiving a substantial downsizing. The retail chain has seen 277 store closings, and 2,104 jobs lost that equaled 40 per cent of GAME's total workforce Much speculation is surrounding RBS' decision of rejecting OpCapita's big which would have secured the entire 40 per cent workforce. It's hard not to see the decision as an attempt to increase the benefits from the deal, while sacrificing an alarmingly high amount of jobs. If GAME does step out of administration today, many will be able to find peace of mind in knowing that their jobs are secure. Perhaps, GAME will be able to build itself back up and reclaim it's video gaming retail throne. If their salvation allows them to reclaim the throne, it's safe to assume that more jobs will become available. Those unlucky members let go as GAME faced troubling times, may very well be able to return. As more information is available we will keep you updated