Game Group shares suspended from trading - BBC News

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Game Group shares suspended from trading - BBC News Mar 21st 2012, 08:59 Game says there is no equity value left in the business Shares in the video games retailer Game Group have been suspended from trading "pending clarification of the company's financial position". The firm has seen its business eroded by competition from online-only retailers, such as Steam and Amazon. Last week, Game confirmed that a number of suppliers were refusing to do business with the company. The group, which is headquartered in Basingstoke, has 1,300 stores worldwide, including 600 in the UK. In a statement, the firm said the value of the company had been eroded, and had made the decision following talks with its lenders and a potential third party provider of finance. "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 07:30 today." Shares in Game closed at 2.39p on Tuesday, having fallen from 62p a year ago. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers. Five Filters recommends: Donate to Wikileaks.

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