More than 3,000 jobs are expected to be saved by a deal to rescue part of struggling retailer Game Group by a turn-around investment firm in a boost for the high street.

It has just been announced that 231 Irish jobs are to be axed at retailer Game.

Lenders of stricken Game Group are working on plans to buy the slimmed-down retailer out of administration, it was reported today.

Retailer Game conceded defeat in its survival battle yesterday after failing to raise new funding, jeopardising 125 jobs in Ireland.

Retailer Game conceded defeat in its survival battle today after failing to raise new funding, adding to fears that dozens of Irish jobs could be in danger.

Fears for the future of retailer Game intensified today after its shares were suspended and it admitted the business has no value.

The future of struggling retailer Game was looking less bleak tonight as the group confirmed a third party has shown interest in providing it with extra support.

Struggling UK electricals chain Comet was today sold for a token £2 (€2.33) after its owner Kesa Electricals called time on the loss-making business.

The former owners of MFI and a former executive of Kingfisher are among those to have expressed an interest in Comet, the UK electrical retailer that was recently put up for sale, it was reported today.