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GMG Game Group

2.39
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Game Group LSE:GMG London Ordinary Share GB0007360158 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 2.39 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Game Share Discussion Threads

Showing 27326 to 27347 of 27500 messages
Chat Pages: 1100  1099  1098  1097  1096  1095  1094  1093  1092  1091  1090  1089  Older
DateSubjectAuthorDiscuss
26/3/2012
21:45
Spot on isis, Game were just totally arrogant and did nothing innovative in their shops like new tech items, they just turned into a old grubby game pawn shop.
wipo1
26/3/2012
17:37
This is hardly a business of National interest as you can buy the Games anywhere, Staff are not highly trained and can move on to another retailer.
There are just too many selling too much of the same stuff.

isis
26/3/2012
17:29
JTM

Only businesses that are worth rescuing are rescued. I agree with you when you accuse the board of arrogance, incompetence and lack of foresight, but that they had engineered this collapse for personal game is too far fetched.

pwhite73
26/3/2012
17:19
RBS have proven what a corrupt system we all have to work under, still it was great taking over £200k from the cesspit known as the city !
jotoha2
26/3/2012
16:26
Hope so, and with divi cut, guernsey cutbacks and relocation of staff hopefully as well they've got to act early enough. Hopefully with support from gamers like EA etc they now start to help fill that gap and maybe give employment to some ex-game staff as they expand. As last real man standing the big games companies wont want to see their entire stock being sold at knock down prices by Amazon or retail sheds like Tsco or Asda and will want a solid high street retail base they can trust. Wonder if HMV could get involved in gmg admin, picking up some stores. Nothing would surprise me. imo
cumnor
26/3/2012
16:23
..mark youve gone silent mucker .
uncle arthur
26/3/2012
16:16
Cumnor - HMV has less than half the stores than Game and last year reduced by around 20 with another 20 due for closure leaving them with around 260 shops in total.
loganair
26/3/2012
16:12
SW - 10,000 Staff include head office staff and those employed in overseas stores, the 5,100 are just shop employees in the UK and Ireland.
loganair
26/3/2012
16:09
Mike Jervis, joint administrator and partner at PwC, said: "The group has faced serious cashflow and profit issues over the recent past.

"It also has suffered from high fixed costs, an ambitious international roll-out and fluctuating working capital requirements.

However, having reviewed the ongoing operational requirements of the business and with the continued difficulties on the high street, unfortunately it has been necessary to close 277 stores throughout the UK and Ireland as of today.

Unfortunately, this will inevitably lead to a number of job losses and 2,104 store employees will be made redundant this week.

loganair
26/3/2012
16:07
SW,

yes globally they do or at least did.

Lets just hope there's £15 mill left in the pot.

bingowing
26/3/2012
16:06
I thought GMG had 10,000 staff!!!
still waiting
26/3/2012
16:02
Administrators are saying that they will close 277 of the UK's stores, leaving 2,104 people out of work and focus their efforts on saving the remaining 333 stores for a possible deal over the next week.Those 333 stores will continue to employ 2,814 people, as usual.
timberwolf
26/3/2012
15:55
Loganair, you sound devestated.
cumnor
26/3/2012
15:50
This morning when I walked past my local Game store it was fully opened for business. I've just walked past it, the shutters are down, doors locked with a hand written sign on the door 'Shut', doesn't even give the reason.

To me it looks like my local Game store is permanently closed, closed for good.

loganair
26/3/2012
15:46
A note to UK investors.
Apparently this sort of thing is quite common with small/medium sized companies who have small debt, temporary cash-flow problems, and good business prospects.
The lenders "lose" confidence and recall the loans. The same lenders then orchestrate buyout of the business. Worth pointing out that the business is viable with good growth prospects. Shareholders almost always get taken for a ride.

This will not happen to companies that either have large debts, or bad business prospects. In that case, the lenders will milk them out as long they can until they finally hit the wall or get restructured (by that time they've effectively recouped most of their loans).

Stick to blue chips as this sort of manipulation is far, far less likely to happen.

Also chart is your friend, if it didn't turn up properly, stay clear.
Better to miss the 'bottom', then to catch falling knife.

justthemoney
26/3/2012
15:30
Games web page:

GAME.co.uk is down for maintenance.

MJA Jervis and SD Maddison have been appointed as Joint Administrators of The GAME Group plc, Game Stores Group Limited, Gameplay (GB) Limited, Game (Stores) Limited, Games Station Limited, Game (Retail) Limited and Gamestation Limited on 26 March 2012, to manage their affairs, business and property as their agents and without personal liability.

We are currently reviewing and processing orders placed on this website.

MJA Jervis and SD Maddison are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.

loganair
26/3/2012
11:50
Thanks Shareho1der.
justthemoney
26/3/2012
11:44
The BoD, to be fair, did gave warnings about the situation. I sold at 1p after the first warning.
If you are still holding this, you must the biggest fool in the world.

RIP , GAME.

THE END

shareho1der
26/3/2012
11:44
Hope for the staff's sake they sort something out.
tim 3
26/3/2012
10:52
Maybe blueshore are still in the picture, maybe they should have just been more aggressive and obtained 51% of the company sooner.
clocktower
26/3/2012
10:50
will staff get March salaries?

I'd be well p*ssed off if I was staff, a thanks from the bod as they shaft you will hardly pay peoples mortgages this month..

still waiting
26/3/2012
10:45
were they the Board off Baffoons.
vision88
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