Anonymous source close to retailer alleges the business will be liquidated by the end of the week; administrators PwC deny claims.
An anonymous source close to Australian retailer GAME has told GameSpot AU that the business may go into liquidation by the end of next week, shuttering all remaining stores with the business now "$120 million in debt."
Accountancy firm PricewaterhouseCoopers, who has been appointed administrator of the business, confirmed in an earlier report that several expressions of interest had been made for the company, but did not reveal the identity of any bidders in active discussions. An unnamed whistleblower has now told GameSpot AU that "there are no buyers" adding that they have "all walked away" suggesting that all remaining business assets will be liquidated.
A spokesperson for PwC, Meghan Senior, denied that the business is slated for liquidation, telling GameSpot AU that "there are a few options if the company is not sold," and elaborating that whilst it was an option it was not definitive.
The Australian arm of the British games seller has been in voluntary administration since mid-May, closing 60 stores and letting go of 281 staff.
According to the official Australian GAME website, the retailer is presently trading at remaining stores on an "as close to business as usual" basis and is still working to "clarify the status of pre-orders." Customers who have placed a deposit are urged to monitor the website for updates. GameSpot AU will continue to report as further information comes to hand.
Zorine is the Community Manager at GameSpot Australia. She enjoys competitive gaming, eating and winning. Is prone to gamer rage.
Well.. They was cheaper in Sydney Broadway shopping centre than EB games in broadway. EB is by far the most expensive. I think the majority of you saying they overpriced games is uncalled for. I have been to many GAME stores around Sydney NSW and they are cheaper than any EB store near them. JB HIFI is cheapest followed by game and EB i do not even bother buying from them..
Game shops will never learn. Why the hell are they so expensive any way, shouldn't they be cheaper then any other retailer because thats all they deal in and get games in bulk? I'll stick with JB HiFi thank you, great prices and great pre-order deals. They even give you more for your trade ins, beleave me I put it to the test. I haven't spent a cent of my hard earned cash in a Game or EB Game shop for ages. ;)
Maybe if they didn't overprice games, like a lot of Australian stores, they would have been more successful. Their PC selection is pitiful too. Was! Ha-ha!
Still bad news, I dont know if anyone else has noticed but EB have been pretty dam expensive around the start of the year.. hardly any special's etc. Then after word of GAME going under in the UK all these amazing specials happen, now GAME Australia looks doomed expect the prices to soar.. Very bad for remote communities like the one I currently live in, going to have to wait a pretty dam long time just to get a game from overseas or pay almost 40% more for a copy instantly..
No real surprises here, it is a shame though as they did have some great sales at times. To take on EB and JB, a company has to form an unique idenity, Game failed to do this. Perhaps they should have dealt in retro games like game traders but without the ridiculous prices game traders asks.
In this day and age of fat warehouse middle men cretins taking that extra 20 bucks for just touching the packet, and the ever growing torrent culture - it is a good idea to shut the store down. Especially if you only sell games..
3 Like I do wonder why people want EB/Gamespot to be taken out. I mean I shop there all the time get get older games of value for dirt cheap. The only real problems I have with them is the fact they put any game with it's case, regardless of Greatest hits or Imported ones, and also some of their "new" games are opened already but are the last ones on the shelf. Just put a display box on the shelf and stop lying, it's that simple.
I was in my local Game store last weekend and overheard the manager talking to a friend about it, from what I could hear is that 13 June is the next creditors meeting. The decision could be made at that meeting unless there is a buyer for the remainder of the stores to close within 24 hours, I would expect them all to be closed by the end of June at the latest.
1 Like Not surprised at that. Round here they expect people to still pay $60 for CoD4: MW. Are you freaking kidding? Get F'd.
1 Like Survival of the fittest sometimes applies. It's too bad GS seems to be immune this trend.
1 Like Sucks for the ppl who r gonna lose their jobs, but I'm surprised GAME lasted this long. My nearest one was within 50 metres of a big w, where I could games for like $30-$20 bucks cheaper. I always sensed they weren't even trying to be competetive.
Good.
I bought a new game from them online. Did I receive a new game. No. GAME has been run into the ground by poor management and they don't deserve to be around. I can only hope that the remaining retailers improve their practices but I realise that is rather futile.
Australian gamers will now lead the way in online retail purchases and download distribution.
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