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PwC can confirm that the joint administrators are liaising with a number of parties who have expressed an interest in purchasing part or all of the business and assets of the group.
However, having reviewed the ongoing operational requirements of the business and with the continued difficulties on the high street, unfortunately it has been necessary to close 277 stores throughout the UK and Ireland as of today. Unfortunately, this will inevitably lead to a number of job losses and 2,074 store employees will be made redundant this week.
The administrators are working closely with employees affected by this decision to ensure they receive the support they need during this difficult time to assist with their claims for redundancy and other compensatory payments.
Mike Jervis, joint administrator and partner at PwC said:
“Our priority is to continue trading the business as normal while we continue to pursue a sale. The recent job losses are regrettable but will place the company in a stronger position while we explore opportunities to conclude a sale. My team and I will be doing all we can to help the affected employees at this difficult time.”
The remaining 333 stores employing 2,844 people will stay open as normal while the administrators continue their efforts to find a purchaser for the business.
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1.Online Sales: We expect some disruption to our online services over the next few days while we make some changes. We apologise for the inconvenience this causes.
2.Refunds and Exchanges: Until further notice, we will not be able to offer refunds or exchanges, unless your item is faulty or not fit for purpose. Your statutory rights will not be affected and we will be able to deal with your refund/exchange accordingly.
3.Pre-Orders: No new pre-orders can be taken until further notice. No refunds can be given for any pre-order deposits which have been paid. We are reviewing this over the next week.
4.GAME Reward card: We have had to suspended use of GAME Reward Cards. This means that points can be earned but NOT redeemed until further notice.
5.Gift cards: We have also had to suspend GAME gift cards. The value on these cards cannot be redeemed. If this changes, we will let you know. We apologise for the inconvenience this causes.
6.GAMEWallet: the value stored in GAMEwallet accounts will be suspended until further notice following the appointment of administrators.
7.Pre-owned Software: You can still buy pre owned products at great prices in your local store or online. If you trade in a pre-owned software item then you will still be able to accrue reward points and use your trade in to exchange for another item. You will not be able to trade in pre-owned software for cash. If this changes, we will let you know. We apologise for the inconvenience this causes.
8.Pre-owned Hardware: We have had to suspend trade in for pre-owned hardware at this time. If this changes, we will let you know. We apologise for the inconvenience this causes.
9.Click and Collect titles: We have had to suspend this service. We apologise for any inconvenience this causes.
