GAME Group to enter administration

Fluffeh writes: "The video game retailer, Game, which runs 1,270 shops, half of them in the UK, and employs 10,000 people worldwide is hanging by a thread after it filed for administration and admitted the business was worthless, jeopardising 6,000 jobs in the UK. Game shops remain open and a fire sale has started. The company admitted on Wednesday that the business had "no equity value" when its shares were suspended from stock exchange trading. The company needs to raise around £180m (around US$280m) to stave off collapse."