MCV/DEVELOP News, events, research and jobs from the games industry
Customers are no longer able to use their Reward Cards in GAME or Gamestation stores. Customers are also no longer able to issue refunds or exchanges. There have also been isolated reports of violence at some stores as customers are stopped from spending their trade-in credit, with some losing three …
Read More »GAME CEO Ian Shepherd steps down, confirms store closures
Ian Shepherd, the CEO of retailer GAME, has resigned from his role. I’ve said a number of times that the administrator, once appointed, takes charge of the business,” an internal GAME memo reads. Having two people try to do that is both confusing and a waste of money. With that …
Read More »GAME: Administration came after period of "careful consideration"
Retailer GAME has issued what may well be its final statement before the process of dismantling the retailer begins. It follows confirmation of its official entry into administration just moments ago. Further to our announcements of March 21st, the Board of GAME has completed its discussions with lenders and third …
Read More »GAME to enter administration, fails to find buyer
As expected, retailer GAME will this morning enter administration. Furthermore, Sky News presenter Joel Hills has claimed via Twitter that no buyer has been found for the chain. The news sadly points to a store closure programme, with staff likely to be told today of which branches are to close …
Read More »RBS GAME bid gathers press momentum as store closures loom
Two more national newspapers have reported that The Royal Bank of Scotland is leading a consortium of bidders interested in acquiring The GAME Group. Yesterday MCV reported that a Sunday Times story claiming that the state-owned bank was interested in saving GAME from collapse. This morning The Telegraph reports that …
Read More »HMV exits Channel Islands and returns to UK
HMV will close its Guernsey warehouse and now run its website from the UK. It follows the end of Low Value Consignment Relief (LVCR), which has allowed online retailers to sell goods tax-free into the UK. As of April 1st, there will be no tax advantage to having a warehouse …
Read More »‘One clear front runner’ for GAME
There is one clear front runner to buy GAME as part of a post-pack administration, sources close to the administrators have told MCV. GAME is not officially in administration yet. The High Street chain will name Mike Jervis and Stuart Maddison of PWC as their administrators. According to the Financial …
Read More »GAME Australia seeking its own funding
With the UK and Spanish GAME operation looking for investors / buyers to keep the chain alive, Australia is taking similar steps. The chain’s 600+ Australian employees have been in a period of uncertainty since GAME’s troubles in the UK began, so management locally is making inroads towards having local …
Read More »GameStop "focused entirely on competing digitally in the UK"
Speaking to investors following the publication of its most recent fiscal results, GameStop has seemingly ruled out the chance of a GAME takeover in the UK. Having closed all of our UK stores, we are focused entirely on competing digitally in the UK," GameStop International’s executive VP Mike Mauler stated. …
Read More »Slight decline in UK games store numbers
There are fewer stores than ever selling games, ERA and Chart-Track says. Last year 6,644 stores sold games, down 1.7 per cent year-on-year. It means since 2007 there are now 1,000 fewer shops selling video games. A reduction in entertainment specialists and electrical retailers are the main reason for the …
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