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GAMESTOP CORP. (GME)
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Game seeks buyer to avoid administration

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03/11/2012 | 03:05pm CEST

LONDON (Reuters) - 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.

LONDON (Reuters) - 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
Stocks mentioned in the article
ChangeLast1st jan.
GAMESTOP CORP. -4.73% 12.88 Delayed Quote.-28.25%
THE GAME GROUP PLC --End-of-day quote.
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Financials ($)
Sales 2019 8 847 M
EBIT 2019 478 M
Net income 2019 318 M
Finance 2019 98,8 M
Yield 2019 12,2%
P/E ratio 2019 4,14
P/E ratio 2020 4,59
EV / Sales 2019 0,14x
EV / Sales 2020 0,14x
Capitalization 1 308 M
Chart GAMESTOP CORP.
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GameStop Corp. Technical Analysis Chart | GME | US36467W1099 | 4-Traders
Technical analysis trends GAMESTOP CORP.
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 15,5 $
Spread / Average Target 20%
EPS Revisions
Managers
NameTitle
Michael K. Mauler Chief Executive Officer & Director
Daniel A. DeMatteo Executive Chairman
Robert Alan Lloyd Chief Financial Officer & Executive Vice President
Jerome L. Davis Independent Director
Lawrence S. Zilavy Independent Director
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