Summary Box: Game Group heads for administration

0
13

FINANCIAL TROUBLES: Game Group, the U.K.-based retailer of electronic games and player platforms, will appoint an administrator after failing to keep the business afloat as purchases are increasingly being made online.

WHAT THAT MEANS: This will protects Game, which faces a large quarterly rent bill this month, from creditors as it reorganizes. Game is burdened with 100 million pounds ($160 million) in debt.

BACKED OUT: Game had announced that Electronic Arts had refused to supply it with “Mass Effect 3,” expected to be a big-selling game. Game said it was unable to get stock from several other suppliers as well.