GAME Group plc. has entered administration.
The retailer filed for administration last week but, due to being unable to find a buyer during this weekend, was officially set into administration yesterday morning. The retailer is still running on loaned time: if it cannot find a proper buyer within the following days or weeks, it can face further store shutdowns and redundancies.The first symptoms that GAME Group was in crisis came the previous month when its X-Mas sales reported lower than expected profits, leading to less credit facility with banks.
Source - http://www.nintendolife.com/news/2012/03/game_enters_administration_closes_277_stores
Mod edit- we have a nice big thread on the matter already.