Gerinako Posted March 27, 2012 Share Posted March 27, 2012 5 Stores closed in Dublin? 4 in Glasgow....no wonder they were struggling... Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted March 27, 2012 Author Share Posted March 27, 2012 isn't there a difference between a company going into administration and an actual healthy company laying off people. Or maybe it's different in Ireland. Yes, I guess the difference is that a healthy co. would have to pay redundancy . Sit-ins have happened before in Irish shop admins.. http://www.irishtimes.com/newspaper/breaking/2012/0110/breaking50.html Quote Link to comment Share on other sites More sharing options...
Tin Foil Hat Posted March 27, 2012 Share Posted March 27, 2012 I didn't manage to use my gift card. Am I now a creditor? Do I qualify for a bailout, compo, some dole and a free car? Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted March 27, 2012 Share Posted March 27, 2012 GAME OVER Quote Link to comment Share on other sites More sharing options...
Snafu Posted March 27, 2012 Share Posted March 27, 2012 GAME OVER can't believe it took that long to get that quote in, unless I missed one somewhere. Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted March 27, 2012 Share Posted March 27, 2012 can't believe it took that long to get that quote in, unless I missed one somewhere. I know, I was waiting for someone to say it and couldn't resist any longer Hard to believe how quickly they have fallen from grace as video games are a massive sector of entertainment and not so long ago their shops were packed with buyers. The whole affair would seem to be a prima facie example of the dangers of borrowing to expand the business at an unsustainable rate. Also a good example of how new technologies (online shopping, digital downloads) can disrupt existing established ways of doing retail business. Quote Link to comment Share on other sites More sharing options...
Tin Foil Hat Posted March 27, 2012 Share Posted March 27, 2012 And an example of cutting out your less profitable market, PC gamers in favour of what is seen as the big earners resulting in them more or less nor bothering to go there anymore. Also an example of oversaturation. They never should have kept all these shops open. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 27, 2012 Share Posted March 27, 2012 (edited) can't believe it took that long to get that quote in, unless I missed one somewhere. Sky Breaking News: Game intend to appoint an administrator !!! "Retailer Game Group has filed notice of intention to appoint an administrator" Game over. Edited March 27, 2012 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted March 27, 2012 Author Share Posted March 27, 2012 (edited) And an example of cutting out your less profitable market, PC gamers in favour of what is seen as the big earners resulting in them more or less nor bothering to go there anymore. Also an example of oversaturation. They never should have kept all these shops open. According to the Game employee I spoke to a month ago, Game were trying to cull the shops as the leases ended. They ran out of time / money. Edit: I noticed Google Play in my chrome toolbar today ......Timing ? https://play.google.com/store?hl=en&tab=w8 Edited March 27, 2012 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted March 29, 2012 Author Share Posted March 29, 2012 (edited) GAME to exit administration as RBS consortium wins race http://www.mcvuk.com/news/read/game-to-exit-administration-tomorrow-rbs-consortium-wins-race/093563 Sources close to the negotiations are certain that a deal to save the retailer is incredibly close, with a likely exit from administration as early as tomorrow (Friday March 30th).Furthermore, multiple sources have told us that it will be the RBS-led bank consortium – and not GameStop or OpCapita – that will seal the deal. Several reports from the national press last week suggested that RBS was the favourite to acquire GAME, though MCV remained sceptical owing to the complications presented by the idea of a majority public-owned retailer. GAME On: Retailer to exit administration as buyer is found http://www.videogamer.com/news/game_on_retailer_to_exit_administration_as_buyer_is_found.html http://neogaf.com/forum/showthread.php?p=36460637 .Wonder what the implications are through this for the running of the business and what happens next. Everything back to normal? Massive reshuffles? More streamlining and closures? Something in between?Really terrible that RBS rejected OpCapita's job-saving bid and now, after 2000 jobs are lost, have their own bid win...... .........Yeah that seems like some dodgy dealing on RBS's part. And isn't RBS owned by the government these days? So does this mean the government now owns its own chain of videogame stores? Edit - GAME Australia Looking For A Buyer http://www.kotaku.com.au/2012/03/game-australia-looking-for-a-buyer/ http://www.youtube.com/watch?v=NaK2NP4bZI4 Edited March 29, 2012 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
Snafu Posted March 29, 2012 Share Posted March 29, 2012 Like seriously. Who with any sort of sanity would go in and buy GAME? Oh I know, these really savvy guys at RBS. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted March 29, 2012 Author Share Posted March 29, 2012 Reward Card Update 1: Your Reward Cards have now been reactivated by the Administrators for redemption against pre-owned stock.] https://twitter.com/#!/Gamedigital/status/185347925180825600 Quote Link to comment Share on other sites More sharing options...
Ulfar Posted March 29, 2012 Share Posted March 29, 2012 How can RBS buy game, large parts of RBS are being sold to Santander. Oh I forgot they are a bank so can imagine money into existence. Time for me to go back down the rabbit hole. Quote Link to comment Share on other sites More sharing options...
thombleached Posted March 29, 2012 Share Posted March 29, 2012 Someone commented this on IGN. I hadn't heard of RBS being originaly involved, but if true I wouldn't be surprised. So so dodgy this. RBS were those ones who scuppered the OpCapita deal before Game went into administration and now RBS wants to buy them after all the nasty stuff has been done? It stinks. Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted March 29, 2012 Share Posted March 29, 2012 Like seriously. Who with any sort of sanity would go in and buy GAME? Oh I know, these really savvy guys at RBS. I know. It's insane. More of our money p****d up the wall. Quote Link to comment Share on other sites More sharing options...
pl1 Posted April 1, 2012 Share Posted April 1, 2012 (edited) How can RBS buy game, large parts of RBS are being sold to Santander. Oh I forgot they are a bank so can imagine money into existence. Time for me to go back down the rabbit hole. RBS are also taking a haircut on some of the debt they are owed. What's the reckoning there's more to this than meets the eye? Edited April 1, 2012 by pl1 Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted April 1, 2012 Author Share Posted April 1, 2012 (edited) Former GAME workers furious at late wage admission http://www.mcvuk.com/news/read/former-game-workers-furious-at-late-wage-admission/093715 Game Group shops sold to OpCapita http://www.bbc.co.uk/news/business-17578451 Game Group rescue deal safeguards 3,200 jobs "OpCapita will also seek to re-employ a small number of staff who previously worked at Game's head office but received redundancy notices last week, it said in a joint statement with PwC." http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/9179349/Game-Group-rescue-deal-safeguards-3200-jobs.html Rescued retailer Game looks to an online future under new owner OpCapita Game Group’s new owner OpCapita will focus on building an online business, after rescuing 333 shops from administration, saving more than 3,000 jobs. The London-based turnaround specialist is thought to have paid a nominal sum of £1 to administrator PricewaterhouseCoopers for the crippled video games firm and its £85million debt pile. ..........A buyer for Game’s 1,300 international stores is yet to be found, although a number of US companies are understood to be interested. Read more: http://www.thisismoney.co.uk/money/news/article-2123678/Rescued-retailer-Game-looks-online-future.html#ixzz1qrSf8BFi Read more: http://www.thisismoney.co.uk/money/news/article-2123678/Rescued-retailer-Game-looks-online-future.html#ixzz1qrRlgIUC Edited April 2, 2012 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
Errol Posted April 1, 2012 Share Posted April 1, 2012 RBS are also taking a haircut on some of the debt they are owed. What's the reckoning there's more to this than meets the eye? Yep, looks like a tax payer bailout by the Government to save the bad press of job losses etc. Never mind though, because the GAME business model is dead in the water. It will die shortly. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted April 10, 2012 Author Share Posted April 10, 2012 (edited) http://www.rllmukforum.com/index.php?/topic/257461-is-game-finished/page__st__4920 New offer was advertised in store today, "Trade in any 3 games and get an extra £10 trade-in value. Ask staff for details". Across all formats. I didn't ask, but it sounds like a fairly attractive offer to boost stock levels - except people like me will hit the car boots tomorrow in search of ancient games for £1 and then pile even more FIFAs into Game. Unless of course the small print forbids certain titles. Sounds worth looking into, wish I'd asked now... Finding something to buy thats the problem!................. . ................Exactly. If GAME have to do this you might as well say goodbye to them now I've traded some in & see they will accept any old rubbish 360. ps3 (Fifa 07 / Wrestling ) & wii / ds games & give you £3/ 4 + trade in. They then mark all this rubbish up at silly prices. Desperate times. They have hardly any new stuff delivered yet. The Game ain't over until the fat gamer laddies sing Edited April 10, 2012 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted April 10, 2012 Share Posted April 10, 2012 Have they not sorted the supplier deals so have little stock? Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted April 10, 2012 Author Share Posted April 10, 2012 (edited) Have they not sorted the supplier deals so have little stock? Not arrived yet, apparently. Gameswise, game staff tell me it should be in within next few days Store I visited only had 4 of the new star wars coloured 360's in stock But as the aforementioned post says (now sadly locked) http://www.rllmukforum.com/index.php?/topic/257461-is-game-finished/page__st__4920 Without 2nd hand, GAME wouldn't have gotten this far in the first place, nobody doing brand new games as their only business can survive on the volume and current margins (their financials show this to be the unfortunate truth), unless you had a retail monopoly. Edited April 10, 2012 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
Errol Posted April 10, 2012 Share Posted April 10, 2012 star wars coloured Star Wars is a colour? Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted April 10, 2012 Author Share Posted April 10, 2012 Star Wars is a colour? wash my mouth out Quote Link to comment Share on other sites More sharing options...
goldbug9999 Posted April 21, 2012 Share Posted April 21, 2012 (edited) The two Game shops in my local high street are now closed. CEX on the other hand seemed to be doing very brisk business. Edited April 21, 2012 by goldbug9999 Quote Link to comment Share on other sites More sharing options...
Son of Taeper Posted April 21, 2012 Share Posted April 21, 2012 The two Game shops in my local high street are now closed. CEX on the other hand seemed to be doing very brisk business. Now could be a good time to focus ones mind on the HPC boards. HPC is a little about house prices, but I think we have an off topic area for any that feels the need to talk about toe nail clippings and the like. Quote Link to comment Share on other sites More sharing options...
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