Game set to breach covenants

10 Jan 2012

The UK electronic retail firm Game Group is likely to breach its Ebitda loan covenants when they are tested next month, the company confirmed on Tuesday.

Game’s total sales over the 49 weeks to January 7 2012 fell by 11.9%. It is now compliant with its loan covenants but does not expect to meet its fixed charge coverage and leverage requirements for the period to January 31 when they are tested on February 27. ...

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