First Sony, the THQ, now GAME. Well, technically, the issue circling retailer GAME kicked off yesterday, but we decided to wait for the dust to settle to get a real grasp on what is happening.

Essentially, the retailer is, as stated my games trade website MCV, in a “first for its life in the UK”. First there were reports of failure to provide stock of the latest games having failed to secure credit insurance with publishers, something that was quickly debunked. However, it did open a whole can of worms as to the difficulty that GAME faces. The group is having to work individually with publishers to find answers to the financing problems, with one anonymous publisher executive stating to MCV, “No credit from the agencies means no stock for the stores. It’s going to get worse before it gets better.”

News then broke this morning that GAME has hinted at the possible sale of some of its international operations – which include 663 non-UK stores across France, Australia, Sweden, Denmark and Nowary.

“In response to press speculation the GAME Group confirms that it is in ongoing dialogue with its lending syndicate to reach agreement on revised terms for its facilities,” a statement reads. “As part of these discussions, the lending syndicate is reviewing a strategic plan of the company which includes a review of its overseas operations.”

“A further announcement will be provided once discussions with its lending syndicate have concluded.”

It’s all sounding rather daunting to be fair, something that publisher EA has recognised, and whilst not naming GAME specifically, are worried about the financial health of a “major European retail partner”.

“We are concerned with the financial condition of one of our major European retail partners,” EA boss John Riccitiello told investors last night, “which could lead to both increased bad debt and lost sales.”

With CFO Eric Brown adding, “We are focused on some isolated European retailer issues that have recently been announced. A negative outcome could adversely affect our Q4 results.”