It has been announced today that GAME, the struggling High Street retailer, has finally entered into administration.
PwC is the firm that has been tasked with steering the retailer back on course, as senior managers look to restructure the company in a bid to avoid crippling job losses and multiple store closures.
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."
"Despite these challenges, we believe that there is room for a specialist game retailer in the territories in which it operates, including its biggest one, the UK. As a result we are hopeful that a going concern sale of the business is achievable."