GAME management told to prepare for administration 'within weeks'

[Chris]

Apparently 2000 jobs have been lost today. Its such a big shame for them all, especially with the current job problems.

[AlexHenry]

I thought people where complaining their games where too cheap that developers didn't get much - if they are selling new stuff at a decent price then the developers would get a fair price right?

True but they are not selling at a decent price, that's the problem - they're selling above and beyond so that when they get sales they will get more money than for example other outlets. Other outlets are selling them at a fair price and are gaining more sales therefore resulting in overall more profit.

[GommeInc]

True but they are not selling at a decent price, that's the problem - they're selling above and beyond so that when they get sales they will get more money than for example other outlets. Other outlets are selling them at a fair price and are gaining more sales therefore resulting in overall more profit.

Which is a fine example of a Goldilocks Marketing Strategy. You have the find the right market band that sells at just the right price

[peteyt]

True but they are not selling at a decent price, that's the problem - they're selling above and beyond so that when they get sales they will get more money than for example other outlets. Other outlets are selling them at a fair price and are gaining more sales therefore resulting in overall more profit.

But people where saying they where selling them too cheap and stuff so they didn't make a profit for the developers now people are saying they are selling them too expensive. If they are selling them too expensive and getting more profit surely they could work with the developers and give them are fairer percentage

[AlexHenry]

But people where saying they where selling them too cheap and stuff so they didn't make a profit for the developers now people are saying they are selling them too expensive. If they are selling them too expensive and getting more profit surely they could work with the developers and give them are fairer percentage

Yes, they could work with the developers to give them a fair percentage of the price but they are already doing that. They could re-assess the situation to see if they could give money back to the developers which is lower than the amount they are paying at the moment. It's not really got anything to do with the developers - it's to do with the business and paying their staff wages, overheads, shop rentals etc.

---------- Post added 27-03-2012 at 05:31 PM ----------

Which is a fine example of a Goldilocks Marketing Strategy. You have the find the right market band that sells at just the right price

Oooh, check you out!

[xxMATTGxx]

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.

http://www.ukmediacentre.pwc.com/New...date-1215.aspx

Also taken from their facebook:

In the meantime, we’ve had to make some changes. We’ve summarised them below. Some of them are temporary, some are permanent.

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.

[Lamz]

OMG today I tried to get a games just before they closed down & the shelves were empty & the shutters were down 3/4!...

[dbgtz]

Gamestation has closed in my town. I hope it doesn't die as it's one of the biggest company HQs in my town. It was quite funny watching the news on South Today, may have to lol at the person who was interviewed if I ever see her.

[David]

GAME administrators reactivate Reward Cards

[Chris]

Some hopeful news :

A deal could be struck as early as Friday, potentially putting an end to further store closures and job losses.

RBS (The Royal Bank of Scotland), which stalled on a bid last week, has previously been linked with a cut price bid for the business while in administration.

The GAME Group has shut the doors of 277 of its 609 shops in the UK and Ireland, laying off around 40% of its workforce - roughly 2,104 employees - after entering administration earlier this week.

GAME CEO Ian Shepherd resigned from his role with immediate effect after administrators PwC (PricewaterhouseCoopers) were appointed to handle any potential sale.

A number of Irish employees have staged sit-in protests over PwC's unwillingness to pay sacked workers owed holiday pay or redundancy money.