UPDATE: Game Over? GAME Australia Enters Administration

Update: Official word has come through now, GAME has gone into official administration and PricewaterhouseCoopers will be handling the situation.  According to a statement from the company, GAME will continue to trade ‘business as usual’ while PwC investigate the business’ situation.

A PricewaterhouseCoopers representative also told Kotaku AU that they working on a scheme for giving customers ‘some’ return on gift cards and gift vouchers. “We are working on schemes aimed at giving customers some return on these claims if they are used to make additional purchases,”

It may be a couple of weeks before anything happens to stores, stock or employees if at all. PwC believes that the ‘difficult local retail market’ may be the cause of Game’s troubles. We could have told them that.

Original Story: Perhaps it was inevitable after news earlier in the year, but GAME Australia has gone into Administration. Kotaku AU is reporting that this morning GAME staff members were informed that copies of Diablo III wouldn’t be arriving at stores, it appears that GAME Australia can’t pay its suppliers somewhere along the line.

The news was confirmed though when GAME stores were sent an email announcing that GAME were indeed in adminstration. Not a good way to start a Monday morning. What happens next isn’t clear yet but when this happened to the UK arm of GAME, 609 stores were closed immediately and staff were let go. It doesn’t appear this is the case here yet.

Expect more news in the coming days about just what’s going to happen and yes, there might even be a crazy sale.