GAME to Close All Australian Stores

GAME to Close All Australian Stores

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GAME Australia's staff might be jobless within weeks.

As retail network GAME deals with the financial monkey on its back, the fiasco is finally drawing to a close for its Australian branch. The struggling chain has been unable to attract any potential buyers to help it from its current state, which has seen a reduction in gift card values and a failure to fulfil customer pre-orders (resulting in intervention from Blizzard to satisfy unhappy Diablo III fans). Administrator PriceWaterhouseCoopers has subsequently announced the closure of 16 stores, with 31 others to follow in the coming weeks. Existing stores will trade on an "as close to business as usual" basis in the meantime.

Kate Warwick, administrator at PwC, says the move was in the interest of creditors. "Despite exploring available opportunities for continued trading," she explained, "the ongoing trading performance and absence of viable offers for the purchase of the business has resulted in these closures."

In a bid to recover as much capital as they can, GAME stock in Australia has now gone on sale, with online and retail products reduced by up to 60%. Aussie gamers looking for a deal should know that discounts only apply to selected stock; prepaid cards, previously discounted items, and game hardware are all excluded.

Discounted games are cause for excitement, but several stores' worth of employees soon to be left jobless is a sobering thought. "This is a difficult time for employees and closing the stores was not a decision we made easily," Warwick said. "PwC has been in touch with the Federal Government Department that deals with General Employee Entitlements and Redundancy Scheme (GEERS) and will assist the employees with their applications."

More details are expected as creditor meetings continue.

Source: MCVUK

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Timothy Chang:
Discounted games are cause for excitement, but several stores' worth of employees soon to be left jobless is a sobering thought.

Well at least they'll have plenty of games to play. They won't be able to get the the ones they actually want, but still!

Welcome new news person. So are you the guy that got the Newsies job? If you are you must know that it is customary to end your last paragraph with a really lame pun.

Something like: If things don't change soon it might be Game over.

Or at least something light: As always it seems the gaming industry really hates Australia.

well i see now how many australian gamers will enjoy the fruits of the new 18+ rating

so Game is closing down in AUS but in the UK someone bought them out right??

In Ireland it has closed down even though it was making profits to stay in the UK market which they were making loses in. Why? All we have in Ireland is Gamestop now with a monopoly. -.-'

rhizhim:

OMG, I can't stop laughing. I love the sound he makes when he hits the wall (though I suspect it's his helmet).

OP: It is sad when game shops close. All we have here is Gamestop. And I only buy pre-order exclusives from them. I really wish there was a good (and huge) game store with all kinds of cool stuff where I live, but no... Not implying that Game was one, just saying what I'd like to have near me.

No doubt someone will try to blame this on the Australian Government. Which of course has nothing to do with it.

Closures are already happening rapidly in Perth, Australia. Almost every store has closed down already! I am surprised it took this long for news of store closures to reach this site! (One store displayed a sign with "Game Over. You have 0 lives left")

It must REALLY suck to be an Australian.

I'm starting to feel sorry for those decedents of prisoners.
:3

 

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