It's mayday for Gameplay

Video game e-tailer, Gameplay, saw its depleted shares plunge nearly 40 per cent.

The company had previously reported that second quarter losses had widened and it was fast running out of money.

Stuck with insufficient funds to reach profitability in the immediate future, Gameplay said it has entered talks with third parties, which could result in the disposal of part or all of the business.

The London-based company reported a pre-tax loss of £56.1m, compared with £10.4m for the same period the previous year.

The German division of the troubled e-tailer was put into administration after talks with potential buyers broke down.

Gameplay also pulled out of the ITV shopping platform Open today, on worries that it may leave orders unfulfilled.

This morning shares in Gameplay stumbled down at 4.67p, a far cry from the 52 week high of 300p.

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