Deathwatch: Game puts itself up for sale

12 March 2012

retail deathwatch It’s been no secret that things have been going mightily wrong for Game Group lately, and the latest development is that the company is putting itself up for sale, as it struggles to raise cash to pay a quarterly rent bill that is due in a fortnight. Uh oh.

If the rent bill doesn’t get paid, the company, which owns Game and Gamestation, could slide into administration. The company has launched a sale of pre-owned hardware and software over the past few days, which some referred to as a ‘firesale’, although a ‘raise-quick-cash-to-pay-the-landlord-sale’ might be more apt.

The company has also recently had problems with suppliers, leading to them announcing that they won't be stocking certain big titles in their 600 UK stores. Watch this space….

TOPICS:   Games

36 comments

  • zeddy
    Game off...
  • Mr G.
    Spend any vouchers or points ASAP,if they slide into administration or are bought out they will be worthless
  • Adam
    Game Over.....
  • Mike H.
    -=|GAME OVER|=-
  • Milky
    Think now is the time to simply go in & make "sensible offers" to staff for goods, all sales at managers discretion so if they want their jobs over coming months now may be the time to adapt & survive, I'd recommend you go in & ask them to price match play & the like with a print-out of what you are interested in, worth a try at this point! Hopefully Game will survive & learn from the process, though I think they've burnt their boats..
  • samuri
    Game's up (wish it was fucking Argos)
  • Harry B.
    Milky - I doubt they will give a shit what you want, they know their time is up, they will probably LOL @ U, flip the bird, then their mate with braces will go PWND!!
  • br04dyz
    i trawled the preowned sale on saturday....the used prices on good / newer games were still less than 10% off new prices online...wont be sad to see them go
  • Me
    Why would you wish it on Argos? If you don't like them, don't go there. There are some proper spazzy comments on this site sometimes. Argos aren't going anywhere - they're buying into China, manufacturers and the like. Expect an explosion of more cheap own-band products.
  • Michael J.
    As always, my thoughts are with the staff and the people on the ground who are stuck in the middle of this. But yeah, GAME Group really deserve this. Completely uncompetitive, greedy, monopolistic bastards. Their money-hungry ways are about to put another ton of people out of work, and it's a damn shame.
  • Euan
    Couldn't really see anything that gripped me to spend my £5 "sorry we dicked you on your ME3 pre-order" voucher on either! And at time of writing their shares are down to 1.15p, which is apparently a bit of a recovery as they'd been below a penny (!) - still quite a crash as they were at the heady heights of 4p only last week! - http://www.lse.co.uk/SharePrice.asp?shareprice=GMG Best of luck to the staff there, tho.
  • Fulcrum
    Well said Michael. I think of the staff with the prospect of looking for work. Companies just are not adapting to the current situation, prices are still driven up by greedy shareholders and then wonder why the share price falls due to the company spiralling out of control.
  • Savvy S.
    A sad day, but one that we all knew was coming... Next stop HMV
  • Dick
    > As always, my thoughts are with the staff and the people on the ground > who are stuck in the middle of this. But yeah, GAME Group really deserve > this. Completely uncompetitive, greedy, monopolistic bastards. Their > money-hungry ways are about to put another ton of people out of work, > and it’s a damn shame. Their money-hungry ways are actually designed to make them a profit on their investment. Most bricks and mortar stores are uncompetitive when it comes to comparing them to online stores, simply because of rent, floor staff costs, etc that online stores do not need. Why do people always blame owners for making money? That is their job - to try to make money. They are not their to just give employment to others without making money themselves.
  • Head
    Oh dear
  • Head
    oh dear both game and gamestation sites are down, we all know what that means lol
  • EarthSurvivor
    Went in to Game on Saturday. Did not see one good deal. Everything is still too expensive. Mission failed!
  • Mike H.
    Looks like they're doing a 'WOOLWORTHS' by telling everyone there is a massive sale on because they're going tits-up with up-to 95% off* then getting you in the door only to find, there's fuck all off their prices. All this smacks of trying to pay the debt off by blagging you into buying shit they need to get rid off. Tell em to fuck off, that's what I said. *pink Barbie XBOX 32k memory card
  • Head
    Saw some foxes running out of Game/Gamestation head office this morning.
  • Sicknote
    GAME are very pleased to announce today that they have secured additional financial backing from their banks in the form of a new shovel with an even longer handle. ......."With this new shovel we'll be able to dig the company [GAME] down to the same level of financial instability & crisis as HMV has sunk in recent months." a enthusiastic company insider was quoted as saying. So, spend any vouchers you have now; save any spare you have because the fire sales are going to start very soon at a GAME store near you. If you work for GAME, brush off your CV and get your hair cut.
  • EarthSurvivor
    Well I just popped down to my local Game just to try and buy one of these magical PS3 320gb Uncharted bundles for £150. But instead the only thing I see is PS3 with 2 x Platinum Games from 2010 for £225. Way to go Game. What a complete rip off! Last time I ever step foot into a Game store. Oh yea, double checked Gamestation, and they didn't have any deals either. What a load of crap. Feel sorry for the staff, but I do hope they go under.
  • bushbrother
    Just used up my points on some MS points ... cost me £1, at least I used them up!
  • Brizoh
    Don't worry, Craig Whyte will come to the rescue. He has, after all, done a terrific job at Rangers FC..
  • Hardon
    Went in in saturday with £300 in my pocket. Spent £9. Would have gladly spent the lot if there had been anything that was truly a decent buy. The only problem with this shit company going is I now have nowhere to kill time whem the Mrs goes clothes shopping in town- seriously, theres only an overstocked small wh smiths that is 'man friendly'. We need a lap dancing bar uP here quick.
  • shoplifter
    Privately, something close to desperation is starting to develop inside government. After watching the slide in bank shares on Friday, one cabinet minister did not altogether joke when he said: "The banks are fucked, we're fucked, the country's fucked." Just replace the banks with game and gamestation .....rinse and repeat
  • Argos e.
    Fuck you Samuri. Fuck you.
  • Dogturd A.
    @ Hardon. Given your name, do you really need a lap dancing bar? Personally, when my other half is shopping, I like to go down to the local 'witherspoon' to watch the neanderthals huddling around a wind-swept cigarette and vomiting on each other. I once saw a fox runnig out of the 'witherspoon'.
  • Hardon
    Ah but I usually have my little lad in tow and Weatherspoons seems to be full of Pervs. So which one do you drink in then pal?
  • shoplifter
    Weatherspoons-----stranger danger
  • Dogturd A.
    @ Hardon. There are more pervs in Weatherspoons than there would be in a lap dancing bar? But I am pleased to see that you are considering your little lad's educational and entertainment needs.
  • Hardon
    Okay, a lapdancing bar with a creche. The girls can look after the kids between winking eye shifts.
  • Hardon
    Sorry- apologies for my bad manners. I totally forgot to tell you to fuck off!
  • Tim
    Their problem has mainly been in not adapting to the shift away from the high street and the excessive retail price of games. Whilst the latter is partly their fault due to greed it's also due to the game industry. People are fed up of £40+ for a game in the current climate and GAME will have not been getting such a big cut from them as the online companies so the prices stayed high. So they resorted to making their profits from pre-owned games at stupidly high prices. They should have shut down Game stores, kept Gamestation for the dedicated gamers, and concentrated online. That's now down to a new buyer if they're interested, but otherwise it's dead and buried.
  • passerby
    I read somewhere that the recession ended in the UK in 2009
  • The m.
    Did they save themselves? I went to my local shop and all prices were terrible again!
  • Spencer
    They've decided that the best way to sort this mess out is charge more for games. With more money in the tills, they can pay their bills and debts. As such, all products in all stores are now 86% increased in cost.

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