Retail giant, GAME has gone into administration today, closing around 277 of its videogame stores across the country. The once popular retail chain had been struggling to compete with online purchases and various Downloadable Content sites, it has emerged.
Over 2000 jobs are now thought to be at risk in the wake of the closures. Another 333 stores are to remain open while a suitable buyer is sought.
Administrators, PwC, have confirmed that the business had been rocked by: "heavy competition from online retailers and ambitious international expansion..." [sourced from: http://www.bbc.co.uk/news/business-17512143]
All gift card transactions from both GAME and Gamestation stores have since been suspended, and no cash alternative is currently being offered, leaving many customers disappointed.
Game Group plc has commented on the closures:"This decision [to enter administration] is taken after careful consideration and ceaseless interrogation of every possible alternative." [ibid.]
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