GAME over? Game retailer sees shares plummet 60%

Shares in beleaguered video games retailer GAME plunged by two-thirds in early trading after it warned shareholders stakes may be worthless.

Shares in the group fell to 1.24p, down 2.27p or 64.7% by mid-morning, after the business confirmed it is in talks with backers about its banking terms. In a statement it said: "The group confirms it remains in discussions with its suppliers and lenders in relation to terms of trade that allow the business to operate within the facility provided by its banking syndicate, as announced on 3 February 2012, and to meet its revised strategic plan. "While these discussions are ongoing, it has not been possible to source new products from a number of suppliers. "The board of GAME is worki...