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4-Traders Homepage  >  Equities  >  Nyse  >  GameStop Corp.    GME

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Game seeks buyer to avoid administration

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03/11/2012 | 03:05pm CEST

Struggling British video games retailer Game (>> The Game Group PLC) has put itself up for sale, as it tries to raise cash to pay a quarterly rent bill due in a fortnight, the Sunday Times reported.

Struggling British video games retailer Game (>> The Game Group PLC) has put itself up for sale, as it tries to raise cash to pay a quarterly rent bill due in a fortnight, the Sunday Times reported.

The paper said Rothschild had been appointed to find a buyer. It added failure to pay the landlords could push Game into administration, and said Deloitte had been lined up to handle any insolvency process.

Citing sources, the Sunday Times reported that selling in such a short timeframe "could be a problem". It, however, said the group's Spanish division is thought to have attracted the interest of U.S. rival GameStop Corp. (>> GameStop Corp.)

Game Group, which trades from some 1,270 stores in nine European markets and Australia, declined to comment.

The group, which is facing intense competition from internet players and supermarkets, had last month boosted its chances of survival when it agreed revised lending terms with its bankers.

(Reporting by Adveith Nair; Editing by David Hulmes)

Stocks treated in this article : GameStop Corp., The Game Group PLC
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Financials ($)
Sales 2018 8 687 M
EBIT 2018 567 M
Net income 2018 332 M
Debt 2018 219 M
Yield 2018 6,81%
P/E ratio 2018 6,73
P/E ratio 2019 6,65
EV / Sales 2018 0,28x
EV / Sales 2019 0,28x
Capitalization 2 250 M
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Number of Analysts 13
Average target price 24,1 $
Spread / Average Target 8,4%
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NameTitle
Julian Paul Raines Chief Executive Officer & Director
Daniel A. DeMatteo Executive Chairman
Tony D. Bartel Chief Operating Officer
Robert Alan Lloyd Chief Financial Officer & Executive Vice President
Jerome L. Davis Independent Director
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