UK video game retailer Game Group is edging closer to administration as their shares plummet after they confirmed various companies are refusing to do business with the company.

On March 13 Game Group’s shares plummeted down 63% to 1.29p (today the shares have gone up to 2.10p).

The share dropped yesterday after Game revealed that several companies were refusing to do business with them. One of the most high profile companies was EA, which meant Game didn’t stock Mass Effect 3 which came out this month.

If Game Group doesn’t gain any new investors it could see Game Group go user, but analyst Mark Photiades, Singer Capital Markets said “We suspect that any potential suitor would prefer to wait for a formal administration process,”

Game Group owns UK video game retail stores Game and Gamestation.

Thank you to SGGamingInfo contributor Aszrayel for the tip.

Source: BBC