Game Group Enters Administration [UPDATE]

By DavieMarshall, 4 years ago

The following advice has been passed on through the official GAME Facebook page for all customers to serve as a kind of FAQ in light of recent events. The move into administration has the following effects:

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.

Refunds and Exchanges: Until further notice, we will not be able to offer refunds or exchanges for products purchased either before the administration or for products purchased from the date of the administration.

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.

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.

GAMEWallet: the value stored in GAMEwallet accounts will be suspended until further notice following the appointment of administrators.

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.

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.

Click and Collect titles: We have had to suspend this service. We apologise for any inconvenience this causes.
Original article

It is being reported that the administrators are now officially in control of all company assets, and are currently making calls to various branches across the UK to inform the managers as to whether their store will be closed or continue to operate in the interim.

Press outlets are reporting that some 300 of the companies 609 stores stand to be shuttered with immediate effect today.

Here is a full statement from PwC:

Mike Jervis and Stuart Maddison of PwC were appointed joint administrators of the UK and Ireland operations of The GAME Group plc, Game Stores Group Limited, Gameplay (GB) Limited, Game (Stores) Limited, Games Station Limited, Game (retail) Limited, Gamestation Limited (“the group”) on 26 March 2012. The appointment was made following the company’s announcements on 21 March that the listing of its securities on the Main Market of London Stock Exchange plc had been suspended from trading and a filing of a notice of intention to appoint an administrator had been made.

The group, with a turnover of £1,625m in the year to 31 January, is a multi-channel retailer of video games and video games hardware trading under the names of Game and Gamestation. The group’s head office is based in Basingstoke with operations in the UK and Ireland, Spain, Portugal, France, Czech Republic and Australia. There are currently 609 stores throughout the UK and Ireland. There are 385 employees based in the group’s head office in Basingstoke and 5,136 store employees across the UK and Ireland.

The group has faced serious cashflow and profit issues over the recent past. It also has suffered from high fixed costs, an ambitious international roll-out and fluctuating working capital requirements.

Despite these challenges, we believe that there is room for a specialist game retailer in the territories in which it operates, including its biggest one, the UK. As a result we are hopeful that a going concern sale of the business is achievable.
As a gamer of some years now, I've grown up with GAME and Gamestation. I even worked there at one point. From all of us here on staff at TrueAchievements, we wish all employees the very best during these hard times.
Credit for this story goes to Lord Terentius