The retailer Game intends to file for administration

Shares in the video games retailer Games Group were suspended pending clarification of the company's financial position.

Discussions had not progressed enough with the various stakeholders and other parties to for a realistic prospect of a solution.

According to Game Group, their business has been eroded by online-only retailers from the likes of Amazon and Steam.

With the group headquarters in Basingstoke, it looks after 1,300 store worldwide, including 600 in the UK, it has found itself with a number of suppliers refusing to do business with.

Game Group had acquired GameStation in 2007 adding hundreds of new stores, in hindsight, this could now be seen as over-expansion.

Shares in Game closed at 2.39p on Tuesday, having fallen from 62p a year ago.