Report: RBS could bring GAME out of administration as early as tomorrow
Bank re-emerges as favourite to pick up chain's assets
A report based on insider sources has claimed that GAME's administration woes could end as early as tomorrow: Friday, March 30, with the Royal Bank of Scotland emerging as the favourite to acquire the firms remaining assets.
The rumour, as reported by MCV, indicates that RBS is the most interested and best placed party to complete the deal, with US retailer GameSpot reportedly cooling its position.
Administrator PwC had previously told press that RBS was the likely leader in the ongoing negotiations, which it hoped to result in GAME continuing to operate as an ongoing specialist retail concern.
Following some aggressive downsizing last week, which saw the loss of at least 2,107 jobs and the closure of 277 UK stores, GAME's business is now a more appetising prospect for a buyer.
Whilst OpCapita and GameStop are believed to still be at the negotiating table, it seems increasingly likely that RBS, which is largely publicly owned after it was bailed out of debt itself with tax-payer's money, will be the eventual owner.
More information as we get it.
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