It’s Dead. Game UK Is Dead

Posted by: Ernice Gilbert March 26, 2012 in industry news, News 2 Comments

After months of incessant bleeding and weeks of rumors claiming it’d find a buyer to save the day, Europe’s biggest games retailer GAME has come to an end. Game over. It’s dead.

Statement From GAME:

“Further to our announcements of 21 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.

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.”

Mike Jervis, joint administrator and partner at PwC said: “The group has faced serious cashflow and profit issues over the recent past. It also has suffered from high fixed costs, an ambitious international roll-out and fluctuating working capital requirements.

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. As a result we are hopeful that a going concern sale of the business is achievable.”

Thanks, MCV.

nick

GAME heres doing fine, actually better then fine allot of their stores have been refurbished recently.
one near me has a gaming lounge setup so people can come in and play whatever device they want for as long as they want.
i refuse to go there though because the staff have the manners of a baboon!
foxton

I will not miss Game in the slightest, they were far too pricey, and i tend to avoid shopping centres at all costs. The supermarkets and online retailers like amazon, play etc have killed it. Its sad to see but honestly their prices were ridiculous, most top tiltles on day release were £49.99 nothing more nothing less, you could always pick up a top game on day release elsewhere for easily £35.