Posts Tagged ‘game’
HMV have around 50 ‘expressions of interest’ in buying the chain, including (surprisingly) Game. Martyn Gibbs, the chief executive of Game, said that an approach had been made to the HMV administrators, but wouldn’t say how many stores they wanted to buy.
Gibbs said: “We will constantly review our property portfolio based on what is available. I would not rule out any stores becoming available, be that through an administration or normal property deals.”
Of course, Game went into administration themselves in 2012, but 300 of their stores were bought by OpCapita. However, this could ring alarm bells for some, as OpCapita previously acquired Comet, and look where they are now.
Elsewhere, restructure specialist Hilco, are showing an interest in HMV and it has been reported that private equity firms Endless and Better Capital and investment firm Oakley Capital are also sniffing around the chain.
Trevor Moore, the chief executive of HMV, has said that he is “confident” that HMV will survive in some form, which is good for those looking down the unemployment barrel, but we’ll have to see how it looks should it survive.
There’s a new game in town called King of Booze. The game, which encourages you to get absolutely shitfaced, is for up to 12 players, who can choose from a number of avatars before getting stuck into an in-game alcotest and numerous challenges and dares.
“Want to make a certain someone drink more? Do you want to get on someone’s ‘bad side’? Will you get naked or wasted? Should you show off your singing, dancing, parkour powers or just keep to yourself and drink?” says the game.
Players either accept more booze or take a challenge.
“These are only some of the many options we came up with,” explain Daygames. “Since we know we will never be as creative as the people of internet we created an option for you to edit and add your own random fields and we are letting YOU decide the ‘price’ in drinks for choosing not to do the challenge.”
It’s the biggest mobile game series of all time (well, we’re guessing it is anyway), and Angry Birds is about to get a hell of a lot bigger as it teams up with notorious cash-generating sci-fi franchise Star Wars. Oh yes.
Coming on November 8th on iOS and Android, and accompanied by a vast range of cash-in crap, erm, merchandising, Angry Birds Star Wars will see the cast of the movies played by various birds (Luke Skywalker will be the red one). As you’d expect, the evil pigs will be Darth Vader and his mates.
Less impressively, the game will be a rehash of the oddly unsatisfying Angry Birds: Space game, which might be why the Birds people have teamed up with the Wars people.
Whatever happens, it’ll probably not as good as Malcolm Tucker’s attempt at a description of Star Wars…
Video games retailer, Game, has been in a place trickier than an underwater level on Sonic lately. So, in a bid to lure us back into their stores, they are offering free WiFi access which you can probably use by standing at their door while buying absolutely nothing.
This free wireless connection will be delivered via a new partnership with BT and will appear in stores by Christmas. Meanwhile, you’ll get on with your life with your 3G connection no doubt.
Game are also looking at a new, free smartphone app which will allow customers to read product reviews and news, watch videos and get special offers, which is more like it.
This is an attempt to drag the company out of the doldrums after it briefly went into administration, before being bought by OpCapita who owns Comet.
It would seem the fortunes of the store rest on a big gaming release, and thankfully for Game, FIFA13 is due out, so keep an eye out for good package deals on that.
If you’re a typical parent, you’re probably keen for your kids to have as many hobbies as possible that don’t involve them pestering the living daylights out of you, the stressed, beleaguered idiot that spawned them.
Having said that… DO NOT LET THEM GO ON THE HABBO HOTEL WEBSITE. For the uninitiated, Habbo Hotel is supposedly a heavily-moderated, kiddie-friendly virtual world where younglings can virtually hang out with each other, dressing themselves up and decorating their hotel room, spending credits that are bought within the game.
But a Channel 4 News investigation has revealed that it’s more like the kind of hotel that you would pay for by the hour. Yes, one of THOSE ones. A Channel 4 producer found that within minutes of logging on in the guise of a young girl, she was being asked about her body and being urged to log on to Skype or MSN for more intimate chats.
You can read more about their horrendous findings over at the Channel 4 News site – meanwhile Tesco, WHSmith and GAME have stopped selling Habbo Hotel gift cards and the Habbo bigwigs have muted all conversations on the site, pending some kind of investigation.
What now paedos? EH??
EA may be saving the world from homophobes, but they’ve been less considerate of the welfare of Game lately. When they pulled Mass Effect 3 and FIFA Street from the chain, it looked like it was doomed to a quick and gigantically painful death.
However, things seem to be turning around for the video game retailer.
Game looks like it’ll be dodging death like Jesus for a very modern Easter miracle, with EA stocking with the company again. 600-or-so stores missed out on a load of sales when EA decided to stop doing business, but now, they’re trading again and everyone is happy.
Well, anyone who remotely cares.
Game, of course, is now slimmed down and under new ownership which seems to have gone some way with patching things up with EA. The good news is, if you want Mass Effect 3, FIFA 12, SSX and Battlefield 3, they’re now all going cheap in Game shops.
It looks as though there’ll be a fairly happy ending in the Game administration saga, with a buy-out by investment capital firm OpCapita due to be announced today. The 333 stores that remained open after the company fell into administration will be saved, along with 3,100 jobs – for now anyway. OpCapita recently bought Comet, and there have been store closures and cost-cutting since. It’s realistic to assume that strategy will be repeated within Game.
As one of the major creditors, it was rumoured that RBS were in pole position to snap up Game but in the end they’ve agreed to the OpCapita deal, saving us from the mind-boggling scenario of Game being the nation’s first part-owned gaming retail chain.
Richard Wilson, chief executive of games industry trade association Tiga, told the BBC: “It’s important for the company to change to consumer spending habits, and it’s really vital that Game also appeals to video game developers. Many video game developers in the UK are of course selling online as well.
“Game is going to have to change its strategy but that doesn’t mean it’s impossible, and the fact that Game has got this new backing behind it, this new management, I think that’s all for the good.”
It’s been the cause of some consternation over the past few days, ever since GAME went into administration, but the company’s Reward Cards have been reinstated and reactivated by administrator PriceWaterhouseCooper.
They have just said: “Your Reward Cards have now been reactivated by the Administrators for redemption against pre-owned stock. This means that points can be earned on all products AND redeemed against pre-owned items as of now.”
Although many GAME customers had cashed in their points when it looked as though the chain might go under, many more had been left with points that they were unable to do anything with. Not any more! A buy-out by RBS is still on the cards, as we reported here earlier.
It could be good news for GAME over the next 24 hours, with strong rumours abound that the wrecked retail chain is about to exit administration after only a few days. The potential buyer – why it’s only state-owned bank RBS!
Gaming website MCV has been told that a deal to save what’s left of GAME is incredibly close with things being sorted as soon as tomorrow if all goes well. There were reports that RBS were keen to buy the company before administration kicked in and 277 stores were closed.
An offer from OpCapita (which supposedly would have kept ALL the stores open for now) was rejected last weekend… erm, by RBS, who were also owed a truckload of money by GAME. Hmmm…
Watch this space though – it looks as though GAME may live to fight another day – part-owned by ALL OF US!
It’s a diabolical day for staff at Game and Gamestation – this morning, the parent company, Game Group, went into adminstration, and it’s just been announced that administrator PWC is closing 277 of their UK stores with immediate effect because they are either loss making, have too high fixed costs or are badly located.
The closures will mean that 2,119 jobs are to go at Game Group (2104 at the stores, 15 at head office).
The search for a buyer for the company continues and it’ll be a stripped-down version of the company that is on offer. Over the weekend it emerged that Royal Bank of Scotland could be a possible buyer, which would technically give us our first ever state-owned games retailer, but if RBS is interested, it’ll get to cherry-pick the parts of the company that it wants.
Over in the USA, games retailer GameStop is also said to be waiting in the wings to make a bid. Whatever happens, there are over 2,000 Game Group staff members whose worlds have just been turned upside down.
The full list of doomed stores can be found after the jump..
As reported earlier, Game Group have today gone into administration. The following statement has been issued by the administrators and if you’re a regular Game or Gamestation customer, this could well affect you. Read on…
Dear GAME customers,
Here’s some important news about us. GAME Group plc (the parent company of GAME in the UK) is now in administration. We want you to know that the Administrators aim at this time is to continue trading while they seek to find a new owner for the business.
In the meantime, we’ve had to make some changes. We’ve summarised them below. Some of them are temporary, some are permanent.
1.Online Sales: We expect some disruption to our online services over the next few days while we make some changes. We apologise for the inconvenience this causes.
2.Refunds and Exchanges: Until further notice, we will not be able to offer refunds or exchanges for products purchased either before the administration or for products purchased from the date of the administration.
3.Pre-Orders: No new pre-orders can be taken until further notice. No refunds can be given for any pre-order deposits which have been paid. We are reviewing this over the next week.
4.GAME Reward card: We have had to suspended use of GAME Reward Cards. This means that points can be earned but NOT redeemed until further notice.
5.Gift cards: We have also had to suspend GAME gift cards. The value on these cards cannot be redeemed. If this changes, we will let you know. We apologise for the inconvenience this causes.
6.GAMEWallet: the value stored in GAMEwallet accounts will be suspended until further notice following the appointment of administrators.
7.Pre-owned Software: You can still buy pre owned products at great prices in your local store or online. If you trade in a pre-owned software item then you will still be able to accrue reward points and use your trade in to exchange for another item. You will not be able to trade in pre-owned software for cash. If this changes, we will let you know. We apologise for the inconvenience this causes.
8.Pre-owned Hardware: We have had to suspend trade in for pre-owned hardware at this time. If this changes, we will let you know. We apologise for the inconvenience this causes.
9.Click and Collect titles: We have had to suspend this service. We apologise for any inconvenience this causes.
MJA Jervis and SD Maddison have been appointed as Joint Administrators of The GAME Group plc, Game Stores Group Limited, Gameplay (GB) Limited, Game (Stores) Limited, Games Station Limited, Game (Retail) Limited and Gamestation Limited on 26 March 2012 to manage their affairs, business and property as their agents and without personal liability. MJA Jervis and SD Maddison are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
If you have any questions please feel free to email us at: email@example.com
Are Game trying to mask the fact that they don’t have Mass Effect 2? No, not Mass Effect 2, we mean Mass Effect 3 – it’s so CONFUSING!!!March 25th, 2012 • 13 Comments
Here’s a crafty piece of merchandising in an unnamed branch of Game, as spotted by ardent Twitter user @TopTopUsername. As you may know, due to their current financial predicament, Game aren’t able to stock the wildly popular Mass Effect 3, but what’s this at number one in their instore chart? Why it’s Mass Effect 2!
The only problem is that you can’t tell that it’s Mass Effect 2, because the price sticker is covering the number 2. Never mind, we’re sure that no one would be duped into buying the inferior game in error. All well and good, nothing to see here, kindly move along…
It’s looking like ‘end game’ for Game and Gamestation now, in their current forms at least. Their parent company, Game Group has just asked for trading of its shares in London as it believes there is no equity value left in the company.
The move follows discussions with banks and a potential third party provider of finance to the beleaguered retailer, believed to be Comet owner OpCapita. If OpCapita’s involvement has been withdrawn, administration looks like the likely next step.
The other name that is being mooted for a takeover bid is US retailer Gamestop, although the chances are that they will wait until administration before snapping up the more profitable stores.
EDIT: As expected, Game has said that it intends to file for administration, saying that talks with stakeholders and other parties had not made enough progress to offer “a realistic prospect for a solvent solution”.
The company are also said to owe £180m to creditors, with another £10m owed to the VAT man and £40m to suppliers. Throw in the fact that they posted a loss of £51.5m in their last set of financial results and it seems almost impossible to see how the company can continue.
As a mooted rescue bid from Comet owner OpCapita appears to be stalling, it’s looking increasingly likely that Game could be heading into administration before the end of this week.
OpCapita are said to be in talks with Game’s lenders, RBS, with a view to buying up its debt and settling those troublesome bills with suppliers. However, any deal would probably mean the closure of a major chunk of the 600 UK Game stores.
Comet have recently seen store closures, cost-cuttings and all manner of changes in an attempt to keep the chain afloat and it looks certain that the same strategy would be applied to Game and Gamestation if OpCapita got their paws on the company. Although as Game are currently unable to stock top games from the likes of Electronic Arts (EA), Nintendo, Tecmo Koei and Capcom, anything would be better than nothing.
Elsewhere, it has been reported that Asda owner Walmart are showing an interest in snapping up the troubled company, although the American retail giant has so far refused to comment.