Good news for GAME as a new report from has declared the Royal Bank of Scotland will buy the company out of administration and it could happen as early as tomorrow. UK trade publication MCV have reportedly heard the news from multiple sources.
This would mean other rumoured candidates GameStop and OpCapita will not be the ones to buy GAME out.
Have GAME been thrown a lifeline?
Administrators PwC shut 277 stores over the UK and revealed plans to let go 2014 staff by the end of the week. Over in Ireland multiple stores also staged a sit regarding a lack of notice given for the redundancies. They believe they were entitled to thirty days notice of redundancy, which they had not received.
Even if RBS end up buying GAME out of administration that doesn’t mean the company will return to life as it once was. The terms of the deal could still be harsh for GAME. Stay tuned.
This isn’t going to be good for either company. RBS was bailed out twice last year because they ran out of cash and now there bringing GAME out of administration. I have a bad feeling about this.