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.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies