High street retailer Game has suspended its shares and announced its intention to appoint an administrator after it was decided that there was no value left in the company.

The videogames retailer says that it had ‘regular discussions’ between itself and its ‘lending banks and a potential third party provider of finance’ to the business.

It has since concluded that it is ‘unable to assess the business’s financial position’ and that there is ‘no equity value left in the group’ and has since asked to have its shares suspended.

The company’s offerings were not able to compete with the price of games available on Amazon, while Game itself was often accused of having a reputation for poor customer service.

More recently the group encountered troubles when a number of video game publishers including Electronic Arts announced that they would not be supplying Game with new titles including sci-fi release Mass Effect 3. The company employs over 6,000 people in the UK.