PWC IS LINED UP as pre-pack administrators to struggling high street retailer GAME Group.
Accountancy Age understands that PwC partner Mike Jervis is lined up to take on the administration.
Earlier this week the game retailer, which employs about 10,000 people, suspended shares after saying there was no equity value left in the business.
The Telegraph reports that US retailer GameStop, funds OpCapita and Hilco could be lined up to buy the business out of administration.
A pre-pack administration entails the whole or part of a sale arranged prior to a business entering an insolvency process and sold immediately on appointment of administrators.
Manufacturer DMG Steelworkers has been sold out of administration in a pre-pack deal by insolvency and restructuring firm CVR Global
By threatening creditor returns, the government could undermine the UK’s World Bank insolvency ranking and cost creditors £8m a year, trade body R3 warms
Lee De’ath and Richard Toone, partners at CVR Global, were appointed joint-administrators of Lexden Centre (Oxford) Limited, trading as Colchester English Study Centre (CESC), on 29 June 2016
Peter Saville, Ryan Grant and Anne O’Keefe of AlixPartners will now become the supervisors of the CVA and monitor the implementation of the proposal