Feeds

Gameplay puts the For Sale sign out again as losses soar

£54.4m in red for 6 months to 31 Jan

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

Gameplay said today it was up for sale again after admitting it did not have enough cash to see it through to profitability.

The London-based video-game seller issued the statement along with its results for the six months ended January 31 2001.

Losses grew to £54.4 million for the period, compared to £10.4 million the previous year.

Sales increased almost eightfold to £44.5 million.

Gameplay said the sale of assets (including its UK boxed games business for £1) and the "current fragile investment climate" had left the company with cash for the immediate future, but not enough to take it into the black.

"Whilst the Board is examining the feasibility of continuing to operate as an independent entity, in the light of its cash constraints and market conditions, the board is also in discussions with third parties which may, or may not, result in the disposal of all or part of the remaining technology businesses, or alternatively the company itself, or both," it said.

Gameplay's shares slumped 40 per cent to 4.5 pence on the back of the announcement. At their height they were priced at around £10.80. ®

Related Link

Gameplay statement

Related Stories

Gameplay: What they got for their £1
Gamplay division sold for £1
44 Gameplay staff face the axe
Gameplay up for sale

Top three mobile application threats

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.