In what seems to be the final nail in the coffin for GAME Australia, administrators PriceWaterhouseCoopers (PwC) have announced that all remaining stores of the gaming retail chain will close. Sixteen of those stores will be close with immediate effect while the rest will eventually close in the next few weeks. This follows the shutting down of 60 stores not long ago.
The closures were confirmed in a statement made by administrator Kate Warwick to Gamespot:
“In the interests of creditors, the 31 remaining Game stores are to be closed over the coming weeks and a final closing down sale has commenced with discounts of up to 60 percent available in-store and online.”
“This is a difficult time for employees and closing the stores was not a decision we made easily. Despite exploring available opportunities for continued trading, the ongoing trading performance and absence of viable offers for the purchase of the business has resulted in these closures.”
Rumours were circulating that GAME Australia could not find a buyer last week and it seems they are true if the closures of all of the remaining stores is anything to go by. Online purchases are still available at the moment, with up to 60% off regular prices on most stock. With these closures, there is no denying that the possibility of liquidation is in fact a reality. PwC will actually present this option in a meeting with creditors today. It was only in May when GAME entered voluntary administration.
The real losers in this closure are the general public. People in those stores (as well as the ones that have already closed) have lost their job, a way to earn an income. Gamers themselves lave lost a competitor, another choice to shop. This brings me to the following question: What are your thoughts on GAME’s demise? You can share them in the comments section below.