GAME enter administration, closing stores and letting staff go

277 Stores set to close, over 2000 people lose their job.

Sad news out of Europe as GAME Group has officially entered administration after being unable to find a buyer over the weekend. This means that administrators have closed 277 stores across all over Europe and 2000 people immediately losing their jobs. Stores were even shuttered, a rude reminder of the finality of the job loss.

GAME’s online store has been closed as well and if you had any credit or loyalty points at the store they’re basically useless, as all spending on those points and credit has been halted. This last ditch move to save money might not be enough either if the administrators cannot find a buyer for the company.

GAME Group hasn’t had a good last six months with profits down and credit in trouble it hasn’t been able to stock new games for a while. A quick fire sale of games didn’t help either as GAME bled money, administration was all but inevitable.

GAME Australia should be safe from this move for now, however who can say what will happen in the future – game retail hasn’t been great for a while.

Let’s hope all those people who lost their jobs get new ones as soon as possible.

Source: NintendoLife