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Eight jobs at risk after Gamestation closes
NEWS: The Gainsborough Standard
GAINSBOROUGH’S Gamestation store closed this week after parent company Game Group called in administrators.
The video games retailer, which owns Gamestation in Marshall’s Yard, employs around eight people at the store.
A sign in the shop window reads: “This store is now closed. Please go to Lincoln for your nearest Gamestation.”
It is thought around 300 of the GAME and Gamestation outlets will close across the UK and Ireland, some with immediate effect, while a buyer is sought.
The company announced on Monday it had appointed administrators PricewaterhouseCoopers to oversee its accounts and operations.
More than 5,000 people are employed by the games giant across 609 stores in the UK and Ireland, with 1,300 stores worldwide.
Mike Jervis, joint administrator and partner at PwC said the group had faced serious cashflow and profit issues.
He also blamed high fixed costs and an ambitious international expansion.
Online-only video game retailers have also hit company profits hard.
Mr Jervis said despite these challenges he believed there was room for a specialist game retailer in the UK.
“As a result we are hopeful that a going concern sale of the business is achievable,” he said.
Customers, meanwhile, should expect some disruption to online ordering over the next few days.
Refunds and exchanges will no longer be available, unless products are faulty, until further notice. And no new pre-orders are being taken.
However, it is largely business as usual. Customers can still buy goods in store and online.
Those trading in pre-owned software can still do so, while accruing reward points. But pre-owned software can not be traded in for cash until further notice.
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Thursday 23 May 2013
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