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Game Group goes into administration
This topic is locked: you cannot edit posts or make replies.    AMG(SC) Index -> Computer & Console Games

Hawq
AMGSC Committee


Name:
Paul
Joined:
30 Nov 2008
Posts: 1063
Location: Crewe

PostPosted: 26/03/12 13:05  Reply with quote

Quote:
Britain's biggest video game retailer, Game Group, has gone into administration.

The group employs about 10,000 staff at its 1,300 stores, 609 of which are in the UK and Ireland.

The administrators from PricewaterhouseCoopers said that the retailer had suffered from high fixed costs and an ambitious international expansion.

Its business has been hit by competition from online-only retailers.

"Despite these challenges, we believe that there is room for a specialist game retailer in the territories in which it operates, including its biggest one, the UK," said one of the administrators, Mike Jervis.

"As a result, we are hopeful that a going concern sale of the business is achievable."
Continue reading the main story
Store locations

UK and Ireland - 609
France - 197
Spain and Portugal - 288
Sweden, Norway and Denmark - 67
Australia - 95
Czech Republic - 31

Game Group employs 385 staff at its headquarters in Basingstoke in Hampshire, and about 5,100 in its stores in the UK and Ireland.

About another 5,000 staff are employed at Game's other stores, which are located in France, Spain, Portugal, the Czech Republic, Scandinavia and Australia.

"This decision is taken after careful consideration and ceaseless interrogation of every possible alternative," Game Group said.

The stores operate under the Game brand, as well as Gamestation.

The company asked for its shares to be suspended last Wednesday and announced it was planning to call in administrators.

It followed confirmation that some suppliers had stopped doing business with the retailer.
source

Hawq
AMGSC Committee


Name:
Paul
Joined:
30 Nov 2008
Posts: 1063
Location: Crewe

PostPosted: 26/03/12 17:13  Reply with quote

Quote:
GAME has suspended the use of Reward Cards and gift cards and cancelled refunds and exchanges.

It's changed the way it operates as a number GAME and Gamestation stores across the UK were closed today.

Reward points can be earned in the stores that remain open, but not redeemed "until further notice", the shop said.

GAME and Gamestation will not offer refunds or exchanges for products purchased either before the administration or for products bought from the date of the administration, it confirmed.

No new pre-orders can be taken until further notice. No refunds can be given for any pre-order deposits which have been paid. "We are reviewing this over the next week," GAME said.

The use of gift cards has been suspended. "The value on these cards cannot be redeemed. If this changes, we will let you know. We apologise for the inconvenience this causes."

Trade-ins for pre-owned hardware have been suspended "at this time". Again, "If this changes, we will let you know. We apologise for the inconvenience this causes."

And finally, the Click and Collect titles service has been suspended.

Administrator PwC is currently restructuring the business as it seeks to find a buyer. RBS and GameStop are thought to be interested.
source

Quote:
GAME.co.uk has been taken offline as the specialist shop's administrators shut stores on the high street.

A message on GAME.co.uk reconfirmed the appointment of PwC as administrator, which will manage GAME Group's "affairs, business and property as their agents and without personal liability".

It continued: "We are currently reviewing and processing orders placed on this website.

"We apologise for any inconvenience this may cause and we hope to be back up and running very soon."

The message is mirrored on Gamestation.co.uk, which says, "We'll be right back!" and, "See you soon!"

In a statement issued today, GAME said it had taken the decision to enter administration after "careful consideration and ceaseless interrogation of every possible alternative".

"Further to our announcements of 21st March, the Board of GAME has completed its discussions with lenders and third parties without resolution, and has therefore today appointed PWC LLP to act as administrators for the Group," GAME said.

"This decision is taken after careful consideration and ceaseless interrogation of every possible alternative. The Board would like to thank the teams of GAME and Gamestation colleagues around the world for their exemplary dedication, passion and professionalism."

Stores have already begun closing, and staff notified of layoffs. PwC told Eurogamer it hopes to issue a statement on store closures and employees later.

It also declined to name parties interested in a buyout. The Royal Bank of Scotland is said to be leading a bid, with US giant GameStop waiting in the wings.
source

Hawq
AMGSC Committee


Name:
Paul
Joined:
30 Nov 2008
Posts: 1063
Location: Crewe

PostPosted: 27/03/12 17:42  Reply with quote

list of stores that have closed as I type this Game in town is gone but Gamestation is still there

Hawq
AMGSC Committee


Name:
Paul
Joined:
30 Nov 2008
Posts: 1063
Location: Crewe

PostPosted: 27/03/12 18:31  Reply with quote



closer to home

Hawq
AMGSC Committee


Name:
Paul
Joined:
30 Nov 2008
Posts: 1063
Location: Crewe

PostPosted: 28/03/12 08:30  Reply with quote

Oddly the closure list doesn't mention Stoke at all where there are 2 Game's in the potteries separated only by an escalator, hmm.. well OK seems that they are mentioned its under Hanley instead both the Game's are dead there, the Gamestation I could never quite locate is not on the list though

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This topic is locked: you cannot edit posts or make replies.    AMG(SC) Index -> Computer & Console Games
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