UK retailer GAME goes into administration

[shakirmoledina]

Retailer Game, owner of the Game and Gamestation chains has entered administration. The chain has 1,270 outlets in Europe and Australia and rumors have circulated for months concerning unrest at the highest levels of the business. It was unable to agree deals with publishers Capcom and Electronic Arts for the latest titles, meaning it had to turn away customers looking to buy Mass Effect 3 during its blockbuster opening weekend. After the board informed shareholders that "it's uncertain any of the solutions [...] being explored by the board will be successful," the company's share price fell by 71 percent. A week later, the company withdrew its share listing from the London Stock Exchange as its share value collapsed to from 62p a year ago to 2.39p. A statement released today said that insufficient progress had been made in finding a rescue solution, but the company will continue to trade while talks continue.

Source

 

[Hop2089]

Once you're in administration it's usually over, oh well serves them right for not accepting the bailout.

Hopefully Gamestop buys them out and soon.

 

[prowler]

Hopefully Gamestop buys them out and soon.

you mean Walmart.

 

[Flame]

at least we still got argos......

 

[pyromaniac123]

at least we still got argos......

That's not even funny.

 

[Pong20302000]

some stores are shutting 24th March

think most places there shuttinig have a GameStation nearby so would make sence to shut the GAME stores there to save moneys

 

[DeadLocked]

Maybe if they competitively priced their shit instead of putting games like Mario Kart 7 at £37.98 they would still be around. Even Tesco is cheaper at launch for games.

 

[pyromaniac123]

Maybe if they competitively priced their shit instead of putting games like Mario Kart 7 at £37.98 they would still be around. Even Tesco is cheaper at launch for games.

That's because tesco can afford to make a loss on games.

 

[Hop2089]

Hopefully Gamestop buys them out and soon.

you mean Walmart.

Yep, I meant Wallmart

 

[emigre]

Looks like I have to spend my £2.58 of game credit pronto.

 

[Foxi4]

at least we still got argos......

That's not even funny.

lol, Argos!

[yt]ZxnVP6BRUdM[/yt]

McIntyre FTW!

 

[FAST6191]

Once you're in administration it's usually over, oh well serves them right for not accepting the bailout.

Hopefully Gamestop buys them out and soon.

For the princely sum of $10000 USD up front I would expect a return of 50% of your net wages for the next 20 years- the conditions of "bailouts" (was there even one?)/takeovers have yet to be made public.

 

[Flame]

Looks like I have to spend my £2.58 of game credit pronto.

i have £3.50, what can we buy?

 

[Judas18]

Better spend my £5 credit. Never really did like Game, they take the piss on prices.

 

[thegame07]

Maybe if they competitively priced their shit instead of putting games like Mario Kart 7 at £37.98 they would still be around. Even Tesco is cheaper at launch for games.

That's because tesco can afford to make a loss on games.

Tesco doesn't take a loss on launch games, that doens't even make sense why they would do that. The only time a company would take a loss on a game is when they are trying to shift stock, they don't want to stock the game anymore due to it being old.

 

[Kitanode]

In our local store they are having a massive 'spring' sale with no mention of any closing down sale or mass clear out sort of thing. I popped inside to spend the points i had accumulated while i still could and noticed that they had practically no xbox games and i mean there was like about maybe 10% of the amount you would usually see out on display. It looked kinda weird as the shop was totally deserted with tumbleweeds blowing around and im now wishing i had taken a photo to show you.
I feel bad for the folks who are gonna lose their jobs but on the other hand i dont really care cos whenever i was in the store i would overhear them pushing sales of crap shovelware onto unsuspecting parents until i butted in and told the parents exactly what they were buying.

 

[pyromaniac123]

Maybe if they competitively priced their shit instead of putting games like Mario Kart 7 at £37.98 they would still be around. Even Tesco is cheaper at launch for games.

That's because tesco can afford to make a loss on games.

Tesco doesn't take a loss on launch games, that doens't even make sense why they would do that. The only time a company would take a loss on a game is when they are trying to shift stock, they don't want to stock the game anymore due to it being old.

Tesco do make a loss on some games because they can make it back on people buying other things in store so you're wrong.

 

[Midna]

Maybe if they competitively priced their shit instead of putting games like Mario Kart 7 at £37.98 they would still be around. Even Tesco is cheaper at launch for games.

That's because tesco can afford to make a loss on games.

Tesco doesn't take a loss on launch games, that doens't even make sense why they would do that. The only time a company would take a loss on a game is when they are trying to shift stock, they don't want to stock the game anymore due to it being old.

Tesco do make a loss on some games because they can make it back on people buying other things in store so you're wrong.

Er, uh...

Source please.

 

[pyromaniac123]

Maybe if they competitively priced their shit instead of putting games like Mario Kart 7 at £37.98 they would still be around. Even Tesco is cheaper at launch for games.

That's because tesco can afford to make a loss on games.

Tesco doesn't take a loss on launch games, that doens't even make sense why they would do that. The only time a company would take a loss on a game is when they are trying to shift stock, they don't want to stock the game anymore due to it being old.

Tesco do make a loss on some games because they can make it back on people buying other things in store so you're wrong.

Er, uh...

Source please.

It's called loss leader, look it up.

 

[prowler]

Tesco do make a loss on some games because they can make it back on people buying other things in store so you're wrong.

Are you pulling this out of your ass?

Supermarkets don't bump up the price like Game does because they aren't a specialist gaming store. They don't make a loss, they sell at RRP.