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| Version 0 | Version 1 |
|---|---|
| Game Group hit as some suppliers refuse to do business | Game Group hit as some suppliers refuse to do business |
| (40 minutes later) | |
| Struggling video games retailer Game Group has confirmed that a number of its suppliers are now refusing to do business with the company, sending its shares down 77%. | |
| Game said it was "working actively to resolve these issues as quickly as possible", but that it was unsure if its efforts would be successful. | Game said it was "working actively to resolve these issues as quickly as possible", but that it was unsure if its efforts would be successful. |
| There is speculation that Game will struggle to pay a quarterly rent bill due later this month. | There is speculation that Game will struggle to pay a quarterly rent bill due later this month. |
| Game recently issued a profit warning. | Game recently issued a profit warning. |
| Earlier this month, the company secured a fresh lending deal with its banks, but this has failed to impress its suppliers. | |
| Poor Christmas | |
| Game has seen its business eroded by competition from online-only retailers such as Steam and Amazon. | Game has seen its business eroded by competition from online-only retailers such as Steam and Amazon. |
| The company has 1,300 stores worldwide, trading under the Game and Gamestation brands. | |
| Its group-wide sales for the key Christmas period fall sharply, dropping 12.9% from a year earlier on a like-for-like basis. | |
| It is now predicting an underlying pre-tax loss of about £18m for the year to the end of January. |