Clifford Chance and Linklaters lead as Game Group eyes administration

Clifford Chance and Linklaters are advising on talks between Game Group and its lenders, with the company today announcing its intention to file for administration.

Linklaters, meanwhile, is understood to be in line to pick up the role for the administrator when Game appoints one shortly.

Clifford Chance restructuring partner Iain White is leading for the computer and video games retailer on negotiations with a syndicate of banks, with restructuring partner Mark Hyde also involved.

Lee Coney, a corporate partner at the magic circle firm, is advising as well, alongside lead associate David Towers, a restructuring lawyer.

Game is a longstanding client for the firm, with this mandate understood to have come from an ongoing relationship, without the need for a pitch process.

Linklaters banking and restructuring partner Bruce Bell is representing the banking syndicate, which include RBS, Barclays and HSBC as lead banks with a number of Irish banks alongside them.

Game confirmed today that it would assign an administrator to the job, with the appointment likely by the end of the week.

Linklaters is expected to pick up the role for PricewaterhouseCoopers (PwC) partner Mike Jervis, who is understood to be in line for the post as administrator.

The Silk Street firm advised PwC partners on both the Lehman Brothers and Enron collapses and has longstanding ties to the accountancy firm.

OpCapita, one of the touted bidders, has turned to regular advisers at Macfarlanes, with partner Stephen Drewitt leading.

The instructions follow a string of restructuring jobs in the past months, with Reed Smith this week winning the role for the administrators of Dublin-based spread betting company WorldSpreads (19 March 2012).