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GAME could be saved by... Royal Bank of Scotland

Bank leading consortium of bidders to acquire retail giant, it's claimed

The Royal Bank of Scotland has emerged as a surprise bidder for GAME Group, several newspapers are reporting this morning.

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Both The Sunday Times, The Daily Mail and The Telegraph are claiming that the bank, one of GAME's six lenders, is leading a consortium with the aim to buy a stake in the firm after it's officially placed into administration today.

The RBS consortium is expected to roll GAME's existing debt of about £85m into a new, slimmed down company, it's said.

A bid is also expected from US chain Gamestop, The Mail reports, while Comet owner OpCapita has already tabled an offer for GAME.

GAME Group confirmed its intention to enter administration on Friday, following its decision to delist itself from the London stock exchange.

It said in a statement: "Further to this morning's announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business.

"The board has therefore today filed a notice of intention to appoint an administrator. In the short term the Board's intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium."

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