Printed from http://www.electronista.com

British store GAME goes into administration

updated 02:25 pm EDT, Wed March 21, 2012

GAME in Europe, Astralia goes into administration

UK-based video game chain GAME has just revealed it will go into administration and will no longer be on the stock exchange. Suppliers will no longer send games to the outlet, and administration means the company's assets are now up for sale. The company has been in trouble in recent months, and has nearly 6,000 jobs in the UK, while operating 1,270 stores in Europe and Australia.

GAME may owe as much as $158 million to banks, suppliers, and creditors, along with upcoming payments of about $33 million in rent and $19 million in wages. Suppliers that wouldn't ship games to the chain over the last month have included Capcom, Activision, EA, Microsoft, and others. It was supposed to be the sole supplier of the Collector's Edition of Mass Effect 3 in its region, but didn't carry any stock during launch.

GAME and Gamestation stores are currently still open, though how long this continues isn't clear. [via ShackNews]



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

Apple 12-inch Retina MacBook

It is an exciting time for consumer technology, with gadgets and devices that once used to the stuff of dreams now coming to fruition. ...

JBL Synchros Reflect in-ear headphones

All headphones are not created equally, especially when it comes to use during vigorous activities or workouts. Over-the-ear headphone ...

Linksys WRT1200AC Wi-Fi Router

Once upon a time, a brand-new Linksys router showed up on our doorstep. So we gathered some network-minded friends together, and hooke ...

Advertisement

toggle

Most Commented

 
toggle

Popular News