To say it’s been a rough few weeks for Game would be putting it mildly. It’s now common knowledge about Game’s dire predicament, but there has been a glimmer of hope for the high street retailer of late, with a potential buyer waiting in the wings. Game’s new problem? The bank.
Game’s future was given a boost recently as OpCapita, the same group who managed to net Comet last year, has demonstrated a great deal of interest in the video game vendor, and has provided solid evidence that it has the finances to pay off Game’s mounting bills, and also has a new team of manager in place to restructure the business going forward.
Only a few days away from the landlord knocking on the door for the rent, this would seem like great news, that is, if it wasn’t for The Royal Bank of Scotland, which seems to be taking its sweet old time to okay the deal.
According to trade publication MCV, RBS is unwilling to enter negations, even though Game could well drift off into administration this weekend.
A source close to OpCapita has told MCV that, “Administration would be a very bad outcome for everyone involved,” and “The clock is ticking before rent day this weekend.”
People have been concerned about the possible takeover, fearing that OpCapita would roll Game into the Comet brand, but a source issued reassurances that this wouldn’t be the case, and that OpCapita saw the potential of Game and its place in the market.
At the time of writing, it’s currently unknown quite why RBS is dragging its heels on the proposed deal. What is clear, however, is that if the situation doesn’t change in the next couple of days, Game may have nowhere else left to turn.