GAME UK needs $270 million by March 25 to survive

March 19, 2012

UK-based retailer GAME has been in serious financial trouble for some months now, and, after the failure of the latest rescue deal, the firm now needs to raise £180 million (roughly AU$270 million) within a week to avoid going into administration.

GAME’s latest troubles have been the reason why the UK and European arm of the retailer has not been able to sell many popular titles, including recent high-profile releases such as Mass Effect 3 and several Capcom titles. The organisation has a £21 million (AU$31 million) rent bill due this week, plus a further £12 million (AU$17 million) wage bill.

It’s possible that the company could find a buyer by the March 25 deadline, however any buyer would be taking on at least £100 million in debts to banks, among other liabilities.