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High street retailer GAME appears to be back on its feet after days of uncertainty surrounding its future. Last night the Board of GAME announced that it had managed to secure a new deal with lenders.
The good news for the high street and the games industry is that GAME will now continue to trade, although it has agreed to “operate within lower limits of its existing facilities than was previously available”.
“We’re pleased to reach agreement with our lenders, but should be under no illusions about the challenges in our market or the hard work that is required to deliver our strategic plan,” stated Ian Shepherd, CEO of GAME.
In a statement released by GAME Group, the company said that it has “also agreed to provide an updated strategic plan for review, and approval in part, by the lenders. This plan will cover all aspects of the business’s activities and strategy, including its overseas operations.”
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