Game Share Discussion Threads

[s_e] 21/3/2012 13:30

Hope some of you guys took the tip this am : )

[jezcentral] 21/3/2012 13:29

Hard luck to those who lost out. I knew GAME was doomed eventually, but I was surprised at the speed with which they went to the wall. The management have been jaw-droppingly bad. GAME still had profit-centres, but never got round to cutting away the dead wood (overseas markets and over-supply of stores). I'm sure it wasn't criminal (I'll bet the board still had money to pay for lawyers to ensure that), but it is bafflingly incompetent.

That said, I would expect someone with some common sense to buy up and re-open the stores. I hope so from a gamer's POV, as a presence on the high street is too important to video-gaming gaming to be left to the likes of Tesco.

NB: I have a position in EA, but none in GMG.

[isis] 21/3/2012 13:20

I had some vouchers for Allders and when I asked a couple of the members of staff what they knew about the possible admin looming and would the vouchers be honoured they didn't have a clue.
I spent them there and then - the admin occurred the following Monday.

Forget asking Managers or Staff - you may as well ask your Postman.

[windass] 21/3/2012 13:16

Excellent article from Lucian Miers on ShareCrazy

[jimmyloser] 21/3/2012 13:13

Tax relief for the video games, animation and high-end television production sectors.

[traidemark] 21/3/2012 13:10

pugg1ey

store managers know less than us in many cases, i too have spoken to several these last few weeks and directly put it too them that the company is finished, each and everytime they have denied this, as of course they would,

could you imagine a manager of a store telling a customer the company was finished, word would spread like wild fire.

i bet if you go in store today they will tell you everything is fine.

[sanks] 21/3/2012 13:07

As a shareholder, its time they let the votes elect who ever they wish to run thecompany. I would have nominated Sheila or Cathy...both would have done a better job then the dim wits sat just dwindling away the money on hyper inflated salaries!

Some of you more astuts poodays may want to try to make your money back on GKP..technically its showing a loola drip below £1...i have my buy orders in at 26p, 27p and 31p respectively.

I have told the minjsniffers on that bb...they know i know.
Hope it helps
Sanks

[justthemoney] 21/3/2012 13:03

Combo83... mate I've been holding since 21p. And when I see shares lose 80%+ in no time and without apparent reason, then I simply cannot push the button. 50% loss ok, but %80+... it was all over for me. In these situations more often than not you end up selling at the bottom. Still cannot see a single fundamental reason for the outcome, except that we've been mugged by the Board. I guess when you have people at the top not working in the interest of the company, there is very little you can do but take losses.

[hectorp] 21/3/2012 12:57

Budget changes, to benefit games makers...

[isis] 21/3/2012 12:56

Shareholders often misconstrue what is happening when speaking to a Company or their Financiers. They will often say the Company will be saved but that does not include shareholders, even the Government did this with Northern Rock and BB.
When a Company goes into admin it is often pre-packed without the Creditors, meaning no debt and crucially no shareholders ie. YOU.

[combo83] 21/3/2012 12:54

justthemoney, I'd have thought you would have offloaded at least some while you could when it bounced. Nvm, maybe there's a chance that they will strike a deal and return to trading.

[chc15] 21/3/2012 12:52

careful, the wording is preceise - it's not in admin yet.
Prob the co. wil be sold, but shareholders will get nothing.

[pattayaboy] 21/3/2012 12:51

Administrator to be appointed at Game Group
StockMarketWire.com
Shares in video games retailer Game Group were earlier suspended from trading pending clarification of its financial position.

The company has now said that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business.

It has therefore filed a notice of intention to appoint an administrator.

In the short term the Board's intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium.

Earlier Game Group had said that it had assessed the status of the ongoing and regular discussions with its lending banks and between its lending banks and a potential third party provider of finance to the business.

A statement added: "The board now considers itself to be unable to assess the business's financial position, and is of the opinion that there is no equity value left in the group.

"Therefore the company has requested that the listing of its securities on the Main Market of London Stock Exchange plc be suspended from trading with effect from 7:30am today."





Story provided by StockMarketWire.com

[justthemoney] 21/3/2012 12:50

Sorry for all the long term holders who were trapped with 80-99% loss bracket.
And even more sorry for the hard working staff who are destined to lose their jobs.

Ta ta from me, off to nurse my losses.

[linney3] 21/3/2012 12:50

Sale on today - Buy a game and the shop is thrown in free

[justthemoney] 21/3/2012 12:49

The Board statement is self contradictory, on the one hand they say that they are not in control of the business finances, and on the other hand that shares are worthless. Chaps, shareholders have been taken for a ride here. The buyers were there 2 weeks ago but they didn't want to let it through. With Wal-Mart, OpCapita or anyone else except the GameStop, the Board would lose their jobs. As it stands they'll stay behind the steering wheel of a new company valued at I guess at least £200m.

Shareholders in this country are really sheep to let it go quietly. At the end of the day they are the owners of the company and should at least scrutinise what is going on. In the US this sort of behaviour is illegal, and although shareholders may not get anything back (if it proves that there are no assets), the Board (those responsible) would be behind the bars.

Sorry for all long term holders who were trapped with 80-99% loss bracket.
And even more sorry for the hard working staff who are destined to lose their jobs.

Ta ta from me, off to nurse my losses.

[pugg1ey] 21/3/2012 12:47

I don't understand why it has gone bust, as a BB poster had a chat with one of Game's store managers and was reassured that everything was fine with the company.......

[speedwaymad] 21/3/2012 12:45

So that's it then - goodnight vienna. And sympathies to all the greedy mugs who piled in this week.

Not.

[justthemoney] 21/3/2012 12:42

The Board statement is self contradictory, on the one hand they say that they are not in control of the business finances, and on the other hand that shares are worthless. Chaps, shareholders have been taken for a ride here. The buyers were there 2 weeks ago but they didn't want to let it through. With Wal-Mart, OpCapita or anyone else except the GameStop, the Board would lose their jobs. As it stands they'll stay behind the steering wheel of a new company valued at I guess at least £200m.

Shareholders in this country are really sheep to let it go quietly. At the end of the day they are the owners of the company and should at least scrutinise what is going on. In the US this sort of behaviour is illegal, and although shareholders may not get anything back (if it proves that there are no assets), the Board (those responsible) would be behind the bars.

[pattayaboy] 21/3/2012 12:38

Now in administration