Game have gone into Administration.

Discussion in 'Video Games and Technology' started by Blitz., Mar 27, 2012.

  1. Blitz.

    Blitz. Well-Known Member

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    to fill in anyone who does not know Game are the UK's Gamestop a massive chain of game stores that go under the name of Game and GameStation and as of Sunday they went into administration. That does not mean they are gone but its rare that a company just gets back to normal after something like this.

    A brief and patchy history of this event...

    Reports started months back last year about sales not being so hot but head office pinned it on the economy and that Christmas would help get things back on track... It didn't sales sucked but they could still operate as normal with what they had.

    As this year started sales dived and money became a problem again and they began looking for investors/buyers (this might have been going on for some time as this info comes mostly from company memo's) GameStop was one name as was the company who bought Comet a failing UK electrical store chain.

    ME3 gets pulled. This is what gets the headlines in gamer circles. A store called Game cant sell one of the most wanted game titles of the year. Clearly somethings gone wrong.

    More titles get pulled such as StreetFighter X Tekken and its basically confirmed they cant afford stock and big name publishers are not willing to take IOU's

    last week they held a spring fire sale to bring in all the money they could before Sunday as rent was due at the sum of £12,000,000. New PS3's were sold for less the £100 and some big titles and PSP games were going for £1.50.

    A note leaked from a director to put it simply says the company had no remaining equity and without a buyout was going to go under.

    and now if you go to Game or GameStation's website you just see a notice saying its down for maintenance but it also gives notice that the administrators have been called in.

    Sad times for UK gamers. Love them or hate them Game was the only major highstreet store that just sold games and was often the only store to deal with limited editions unless you went online. I guess when Amazon is selling the same games for less people dont mind waiting for the postman. I was lucky I cashed in all my loyalty card points for XBL points a wise move by the sounds of it.
     
  2. WTDylio

    WTDylio Where is Jessica Hyde?

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    Well fuck.
    My local GAME has (well, maybe now had) the friendliest employees I knew, when I went to buy Skyrim, we chatted for a good 10 minutes about how we had all been looking forward to it and how big the official game guide was, in HMV the employees only ever glance at me to judge whether or not to ask for ID, they are goddamn miserable in there
     
  3. Phoenix Blaze

    Phoenix Blaze Brain Waster

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    Aw man I had like a fiver in loyalty points...

    But besides that, it's truly sad to see the possible and very likely death of Game and Gamestation. If they go, not only will certain streets in Glasgow now decay even further, there's no one else left. While there are plenty of online options I love in store buying but I suppose when a lot of big title games are released at around or above the £40 mark and remain at £30 for a good amount of time people won't be buying much.

    On a more greedy note, DAMN I wish I had known about this early enough to pick up some cheap ass deals! I'm in the mood for a DS and some Pokemon games!

    But again, it's just sad when long standing companies start dying off.....things are so gonna get worse.
     
  4. Boulder

    Boulder Rock Lord

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    For (U.S. of) Americans:

    Adminstration is akin to Chapter 11. The company is attempting to reorganize its assets and balance its debts. If it is unsuccessful the company will have to sell off assets to pay its debts (Chapter 7).

    If this happened to Gamestop, half the people would come in and lament its loss while the other half would chime in with a "good riddance" while almost none of them would bother to learn the difference between Chap 11 and 7. (Personally I like Gamestop; I use their prices as a barometer of how much is too much to pay for a particular title.)
     
  5. jackgaughan

    jackgaughan Interner Soldier

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    I'm gonna miss it. I loved browsing the pre-owned section of Gamestation and doing the mixing and matching in GAME. (Got Gears 1,2 and Bulletstorm. for £15!)
     
  6. Ratchet2007

    Ratchet2007 Well-Known Member

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    Websites are back up!
     

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