Struggling video games retailer Game Group has said it intends to file for administration in a legal move which gives it 10 days of breathing space to secure its future.

      Game in The Foundry Shopping Centre

The business which has two stores in The Foundry shopping centre, both Game (above) & Game Station, had earlier this week seen its shares suspended "pending clarification of the company's financial position".
The firm said talks with stakeholders and other parties had not made enough progress to offer "a realistic prospect for a solvent solution". It’s believed the groups finances are so dire that a solution will need to be found far quicker than the 10 day period.

Last week, the retailer confirmed that a number of suppliers were refusing to supply it with the latest new titles it needs to generate much need sales, it was also struggling with a massive quarterly rent bill due this weekend. The group, which is headquartered in Basingstoke, has 1,300 stores worldwide, including 600 in the UK making it not only the biggest video games retailer in Britain but the biggest in Europe too.

In a statement on Wednesday 21st March, the firm asked for its shares to be suspended, saying the value of the company had been eroded.

The question is can a buyer be found, but even if a deal is done hundreds of stores are still expected to close.
Game Group acquired Game Station from Blockbuster Inc in May 2007, adding hundreds of new stores to its portfolio and whilst both stores in Scunthorpe still continue to operate the question has to be for how long?