60 GAME outlets in Australia are closing down as administrators struggle to find a buyer.
Australian box fetishists hoping for a quick and clean resolution to the down-under administration woes of specialty retailer Game got a double-dose of bad news this week. First came word that despite the best efforts of PricewaterhouseCoopers, lots of tires are being kicked but nobody seems terribly interested in actually buying the chain.
"Despite the very challenging circumstances facing the retail sector, we have received various expressions of interest for parts of the business, including a number of parties expressing interest in the business as a going concern. We are currently exploring the possibility of achieving a continuity of the business as a going concern with the company's many landlords who appear pivotal to any continuation," PwC rep Kate Warwick said in a statement. "We are also currently examining the other expressions of interest and we expect to make a decision on the future of the business in the coming days."
That ongoing struggle has inevitably given way to store closures, 60 in all, resulting in 264 front-line job losses. "This is a difficult time for employees and closing the stores was not a decision we made easily," Warwick said. "However it is not financially viable to continue to operate at this level at this time." Another 17 positions are being cut from Game's Australian head office.
Game hasn't announced which stores will be closed, but the loss of 60 outlets will have a huge impact on the chain no matter where they come from: According to the Game Australia store locator, there are less than 120 stores across the entire country.