GameStop bid for Woolworths is "completely inaccurate"

US retail chain GameStop has dismissed speculation that it is in negotiations to buy stores from the troubled Woolworths business.

The rumours were started by retail paper MCV last week, quoting an unnamed source as saying GameStop would "fight tooth and nail" to acquire half of Woolworths stores in the UK.

However, GameStop has denied any such action and said that it is "refuting inaccurate reports that it has made a bid for real estate being sold by the administrator of British retail chain Woolworths."

"Claims originating from games industry publication MCV hold no merit and are completely inaccurate."

While Woolworths and its distribution company are struggling on the High Street, a number of bids have been made on the business, according to administrators Deloitte.

The chain has already axed jobs and is selling many products at discount in the weeks before Christmas.