Gamestation, The Moor.. in administration!

RBS is helping Game group according to MCV. How they can afford that I dunno.... so I guess Game is now state owned lol.

Who says 'help' means a cash injection?

 

RBS can either dump GAME and write off tens of millions (probably), or re-schedule GAME's debt repayments so as to give GAME a lifeline (and get some more back than they would if they didn't re-sched). Hey presto, no cash out, but net loss avoided and mitigated (for now).

I understand the principle, its pretty clear. What I do not understand is how they can enforce it once a company has gone into liquidation.

It's not in liquidation, it's in administration. Meaning (in simple terms), it will continue trading so long as a relevant/major stakeholder (RBS, more so than Sony) does not pull the plug, and might even, eventually, crawl back out of the gutter it's currently in.

Any games owned by sony are sonys so they cannot be sold off or counted as assets by the administrators but any money from games that had been sold would have to claimed by Sony as creditors along with everyone else

In that case why don't Sony recover their property ASAP.

Because they're rather get cold hard cash than inventory, at a guess?

Yeah, most of the cost isn't in the physical item in the shop, they can't really recoup anything by taking back the property. That makes sense.

In that case why don't Sony recover their property ASAP.

 

The stock has been moved to stores that are still open and selling. Go into Gamestation in meadowhall and you will see a lot of pink game stickers on items.

I find it annoying that they can move game stock to game station, but a few weeks ago I asked if I could use my gamestation points card in game, and they said no.

The stock has been moved to stores that are still open and selling. Go into Gamestation in meadowhall and you will see a lot of pink game stickers on items.

 

Which won't help Sony, once sold the money will go to the administrators and Sony will be a creditor (presumably one of many).

 

But as already pointed out, the physical product doesn't have much of a cost associated with it, the cost is in the development of the game and that money has already been spent.