Monday, 26 March 2012

GAME officially in Administration, CEO leaves, half UK stores close

Update: The actual number of stores reported closed at this moment is 277 stores with 2,104 members of staff losing their jobs :(, a list of closed stores is over at CVG however Crewe isn't listed still and there are a few others not accounted for, so sadly expect this number to be higher

Original Story: Just a few hours ago GAME entered administration with the appointment of PricewaterhouseCoopers as its administrator this morning "after careful consideration and ceaseless interrogation of every possible alternative".

Both and have been taken offline, as well as reportedly nearly half of the 609 UK stores have been closed or closing, including our local one here in Crewe: Our hearts go out to all the staff effected in this matter, either give these guys a hug, cake or a pint (provided you are over the age limit to drink of course) to show how much these guys have done for us all, despite the higher up issues with the company

Gift Cards, trade ins for cash and reward points have been frozen with both GAME and Gamestation outlets, as well as both actual refunds and pre-order refunds before and during the administration will not be given, this has been assured as a 'temporary measure' and will be looked at over the week.

GAME Group CEO Ian Shepherd has also resigned while stating his disappointment of the media coverage over GAME's troubles, the following is a quote from CVG's article on the matter

"A second thing I hear a lot, though, is 'why do we keep hearing more on in the internet and through the trade press than we do officially through the company?' That bothers me a lot, because it is really important to me to be as open and straight with all of you as I possibly can be.
"The reality, I'm afraid, is that a lot of what you read online is speculation about things that might happen, rather than facts about what actually is happening. Some of it ends up being right, a lot doesn't, but I can completely understand why it feels like you are reading more online than you are hearing from us.
Shepherd continued by laying out the "a few solid facts" about GAME's situation for staff, before concluding: "Everything else you read online is simply speculation. It's painful to read so much coverage and feel so powerless about it, but I'm afraid it goes with the territory of being in this awful situation.


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