Game to Soon Relaunch as New Company?

Game has a plan to survive. Sacrifice Gamestation, restructure, close certain stores and etc…

A new report has emerged from MCV, which suggests that GAME will enter voluntary administration on Monday, with a plan to open a new company with less stores.

According to the site, this would then see 300+ stores in total across all regions, removing the need to manage multiple stores in each town.

Apparently, a new company is scheduled to be created on Monday, following the removal of The GAME Group from the Stock Exchange. UK and Spanish branches are the only ones affected, with “all other international operations” being “cut off and told to fend for themselves”.

“If everyone commits it’s great news,” MCV was told. “A GAME with 300+ stores is what we’ll all get, which is basically where they should have been three years ago during the peak. There’s no need for two, or even three, stores in the same town or city.

“They get a chance to reduce debt, keep trading and work out a plan for a new owner without so many financial and lease millstones around their necks.”

It is still possible that GAME will shut down entirely on Monday if the company does not secure the deal it needs.

Source: My Nintendo News

Thanks to our own Spon1Player/Daniel for the tip!

  • Leighanne

    An update for you.
    mynintendonews.com/2012/03/20/gamestation-to-close-while-game-forms-a-new-company/

  • Leighanne
  • http://www.thesims3.com/mypage/Bafendo theblackscorpion


    Leighanne:

    An update for you:
    http://www.mynintendonews.com/2012/03/20/gamestation-to-close-while-game-forms-a-new-company/

    crap, I forgot to site/link back to them. Thanks for the reminder! :)

  • Leighanne

    That’s okay :) You see the update they put up?

  • http://Website Robb

    I can’t help but wonder about the future of GameStop: there are so many of them. In the last (small) city where I lived, there were 3 GameStops within 5 miles of each other. I just don’t see how the market can sustain the number of GameStop stores, especially with so much of the industry moving to downloads.

  • http://Website Thetford

    To be honest, I don’t see much of a future for Game, Gamestation, HMV, or any other specialist store. The video games market is steadily turning online (not necessarily downloads, but like Amazon and Play), the UK, where this store is based, is one of the most internet based economies in the world.

  • http://simprograms.com mysterious_sims UK

    I found some news on Game, via Sky News. Game has 600 stores in UK with 6,000 staff. Looks like they will be forced into administration next week, they have huge bills to pay out by the end of the month. The firm faces a £21m rent bill due on March 25 and a £12m wage payment at the end of the month.

    It also owes more than £10m in VAT and £40m to suppliers.

    On top of this they have to raise £180m this week or face administration.

    http://news.sky.com/home/business/article/16193054