The company was reported to have made a bid for the company that not only would have eradicated the dying company's debt, but also maintained it as an viabl business. However, a source close tohas now all but ruled that out.
“They had the money lined up. They’d done due-diligence, and met the company and the banks. It was ready to go."
It's being reported now though that GAME is going to re-launch as a smaller company, and that a buyout deal is now unlikely.
Game Group today, which comes with a ten-day moratorium period in which they can find a buyer and come to a deal.
Comet bid for Game Group now less likely
21 March 2012 | By Joe Robinson