game in serious trouble?

I don't see the point in GAME having any stores tbh. Why would you go to one of their stores when you can order a game cheaper online and receive it the next day?
 
sooner this horrible excuse for a company goes down the pan the better,

hopefully what rises from the remains of game will be a leaner, better more competitive company. I'd love to see them ut their retail prescence ie the 2 stores in the same shopping centres etc and use the savings to offer better prices and a wider range.
 
As I've said before, I'm surprised they don't just scrap the Gamestation brand. Where you've got high-streets and Malls with both brands within a few meters of each other, it makes little sense when they are struggling to have the overheads of operating both.

Make everything Game, close down stores and transfer any loyalty/warranties/etc from Gamestation to the Game brand and they've made some savings.
 
indeed, its even scarier when you find 2 games and a gamestation in the same shopping centre, i mean its not even as if they have any other competitors that they are muscling out. close the unneeded stores lay off unneeded staff and be amazed as the customers for those stores flock to the branch of game thats 50 yards away for their gaming needs look on in amazement as your profit margin rises and your company is saved form going under.

the upper managment within game must be completely retarded if they cant see the above
 
Reading used to have three game stores within a 1/4 mile of each other, now we have one game and one gamestation - still one store too many imho.
 
The reason why there were so many is because when EB rebranded all the EB stores to Game, they didn't close the ex-EB stores, they simply renamed them. As for why they remained - if an individual store is profitable I guess no reason was seen to close them.
 
Looks like we have reached the endgame:

GAME has announced it has officially entered administration, although the meantime it will continue to trade as normal (or as normal as the last few weeks have been).

Here's the full statement:


'Further to this morning's announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business. The board has therefore today filed a notice of intention to appoint an administrator.'


'In the short term the Board's intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium'


Read more: http://www.metro.co.uk/tech/games/8...inistration-but-shops-stay-open#ixzz1pkoeE8dq
Click to expand...
 
Ouch. Where does this leave those with shares? From what i remember, if it goes into.. liquidation, then only creditors receive money, whereas if they are sold off then shareholders may earn some of what they paid back? (could be totally wrong).
 
SMN said:
Ouch. Where does this leave those with shares? From what i remember, if it goes into.. liquidation, then only creditors receive money, whereas if they are sold off then shareholders may earn some of what they paid back? (could be totally wrong).
Click to expand...

Those with Prefered Stock will get money before Common stock which is the lowest in priority in liquidation. Both of these are after other things have been settled.
 
i was reading through this thread as it came on radio 1,
the admins have been called in,
it is a shame but not a suprise
 
I should imagine that now administrators have been appointed they will likely be bought out. They were untouchable until now as it would have been a costly nightmare to turn them around. IIRC there was talk of GameStop in the USA being a potential buyer.
 
Nothing to stop OpCapita still rescuing them is there? But I think their plan will now be to focus on their UK market and then carry out some store rationalisation plans as per news reports yesterday.

Expect some great sale items :D
 
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