Game Share Discussion Threads

[isis] 22/3/2012 11:47

How does it won leases when it can't pay for them??

It's like paying rent and saying you own the house.

[typo56] 22/3/2012 11:46

Blueshore made a duff call. They need to get over it. How well did they 'drill down' into those balance sheet assets? Those intangibles? That stock (recently sold off at knock down prices)? Those fittings?

[bingowing] 22/3/2012 11:45

isis, maybe so =but it owns the leases to high grade retail spaces. It owns its HQ building, it owns its website and various offices around the world.

[isis] 22/3/2012 11:37

Blueshore seems to think that Game owned the stores when in fact they were all rented. Same with Woolies, Blacks etc. - that's why these Companies have no value.

[scamper] 22/3/2012 11:08

GAME UK has attracted the attention of "five or six" potential buyers, Retail Week is reporting.

Meanwhile, a further 20 suitors are interested in the company's international assets - with its Portugal and Spain outlets the most attractive prospects.........................



Beleaguered entertainment retailer Game was being circled by potential buyers within hours of putting administrators on standby yesterday.

[cliveas] 22/3/2012 10:47

From LSE ;

Blueshore urges "fair and just" administration for GAME

The value of GAME's assets needs to be reassessed to ensure that shareholders receive a rightful return on their investment, Blueshore Global has told MCV.

Having acquired new stock in the retailer yesterday before its filing for administration and stock freeze this morning, the company – which owns nine per cent of GAME – has expressed reservations about the upcoming period for the retailer.

"We were always prepared for the possibility of administration. We are though a little puzzled that the Board thinks there's no equity value. We humbly disagree," Blueshore boss Harsha Gowda told MCV.

"The company reported earlier in the year that their credit line was reduced not increased as reported in the media. GAME clearly stated in February that they will 'operate within lower limits of its existing facilities than was previously available'."

Gowda says that Blueshore was still acquiring GAME stock as recently as yesterday as the value of its raw assets have been misunderstood by the markets.

"The media has discussed the cost of all liabilities without mentioning the value of the assets such as inventory," he added. "We believe, as per the financial statements, the value of these assets exceed the value of the liabilities.

"I want a proper valuation of GAME's assets, including its HQ, French deposit money and online operations."

Harsha even stressed that he would be prepared to take legal action should he feel that administration is not correctly handled.

"Money collected from the potential sale go first to secured creditors, unsecured creditors and then shareholders. We believe there should be enough value to fulfill all of those obligations," he insisted

"Even if, say, 50 per cent of stores are closed, the value received from the buyer of the other 50 per cent would be sufficient to pay off liabilities such as leases and severance and still off substantial positive value for shareholders.

"It needs to be a fair and just process. I'm confident, but a little concerned by the Board's no equity value statement. We will protect our rights."

[loganair] 22/3/2012 10:10

Three weeks ago we reported on industry speculation that claimed GameStop would ideally like to buy GAME assets that would give it a foothold in the British and Iberian markets, but doesn't want to buy the entire chain. Because a wholesale grab would give it too many stores in Australia.

Now our sources are saying that the French games market is causing as much concern, if not more.

GAME and GameStop are direct rivals in France. GAME runs around 200 branded stores in the country, built through a series of acquisitions in the region over the last decade. GameStop, meanwhile, owns the 300-strong French chain Micromania which it grabbed in 2008.

Bringing the two specialist chains together would cause a "clash almost identical to the GAME-GameStation buy", one exec told us.

"The competition in France is just as much of a roadblock as it is in Australia, if not more.

[loganair] 22/3/2012 10:08

Thu, Mar 22, 2012 | 09:58 GMT - Report: Six bidders interested in GAME's UK arm At least six bidders are interested in taking over the UK arm of GAME.

The report quips GameStop as top of the list, but also mentions Hilco and OpCapita as potential suiters.

Note: imo Hilco are just asset strippers and OpCapita has basically already been truned down by the banks.

[pattayaboy] 22/3/2012 10:04

I see their website is still working lol.



About us

Playing to win
GAME Group is Europe's leading specialist pc and video games retailer.
We're the only company in our sector to be listed on the London Stock Exchange.
Worldwide we have over 1,300 stores trading under two brands: GAME and Gamestation.
Online we have three brands - GAME, Gamestation and Gameplay.
But no matter where we do business, in our retail shops and online, the same customer focus prevails.

LOL

[shareho1der] 22/3/2012 09:54

dballantyne.
yes, but the current shareholders will NOT be be part of the new story.

[isis] 22/3/2012 09:22

EA are launching a new Game called 'The Administrator' whereby shareholders have to dodge bullets and lasers from an out of control Administrator from PWC.

[fctwente] 22/3/2012 09:20

This is ery true loganair. Always be aware that asset values are nothing when company reaches administration.

[loganair] 22/3/2012 09:17

reallyrich - Before administration Woolies had a lot of assets, however the administrators are only interested in getting back the money for the banks and their own fees.

For example 2entertain, 40% own by Wollies and never put into administration their 40% was valued at well over £100mln, sold to the BBC for £18mln, Betram/The valued at £50mln, sold to management for only £5mln.

[ihavenoclue] 22/3/2012 06:59

Honiton - 21 Mar'12 - 18:18 - 3910 of 3938

Avoid shares priced at less than £1.

==========================

Someone needs to be using my name :)

[spennysimmo] 22/3/2012 06:40

Thanks harry.

[reallyrich] 22/3/2012 02:06

Just seen this on a previous thread. Already being delisted on the 26th. So much for a temporary suspension.




While I see they owe 180 million. They do have a lot of assets, property, stock etc which according to the last accounts far exceed this amount. I still want to know what happened to the cash of 120 million they talked about. In the last accounts they were saving money with cost control to help offset the fall in sales. 120 million does not dissapear. If it were ever there, then why didn't they reduce debt by a good amount.

I think this is the main question to ask. What happened to the cash?

Good Luck to All

[gunsofmarscapone] 21/3/2012 23:30

Whats the point, it was fun for a few weeks and I almost got away scot free, 3-400 quid down. Good practice in bottle and balls for the multiple wildcat oil expo drills coming up over the next eighteen months.

Anyone not into risk/gambling must have been barking like a fish to have been involved. Right, over to tcg now.

Sorry if you have been mangled by the market. Nasty business!

[dballantyne] 21/3/2012 23:06

I went into Game in Braehead Glasgow tonight and it is still trading as usual. Apparently this branch is rated number 2 profit maker in the country. The staff believe they will close loss making shops and keep the good ones going. Generally their outlook is positive and they believe the business will be streamlined and brought back on track.

Has anyone else been into their local shop to get the story from ground level?

[dballantyne] 21/3/2012 22:50

I went into Game in Braehead Glasgow tonight and it is still trading as usual. Apparently this branch is rated number 2 profit maker in the country. The staff believe they will close loss making shops and keep the good ones going. Generally their outlook is positive and they believe the business will be streamlined and brought back on track.

Has anyone else been into their local shop to get the story from ground level?

[uncle arthur] 21/3/2012 22:40

wtf lad is a poodeenyo .

[uncle arthur] 21/3/2012 22:39

short or long. as long as your not holding before shares are suspended .

[oh poodeenyo] 21/3/2012 22:39

spassymodo you poodee, are you still trading?
Word has it, you are the only poodee left holding antique quality Marconi certs!
Respect to you and your poodee poodaa.

Hope it helps
oh poodeenyo