Game in Trouble

[Riedquat]

O/T, does anyone know where I can actually buy ME3 for PC then? Can't be arsed to order it online and wait. Want to play it at the weekend.

Guess here, but supermarkets?

[Saving For a Space Ship]

http://www.mcvuk.com/news/read/d-day-looms-for-game/092556

MCV has learnt that senior members of the GAME management teams have been told to brace for the possibility of administration.

Senior staff were told at a meeting with CEO Ian Shepherd earlier this week that the chain has approximately two weeks to turn its fortunes around.

However, hope remains that a deal with a potential suitor – namely, US retail rival GameStop – could yet save the company from closure. Whether this would involve a complete buyout or a sale of part of GAME’s international operations cannot be said for certain.

The first step in this process is what has been widely described by consumers and press alike as a Fire Sale at UK GAME stores that kicked off today and has seen stock offered at what are alarmingly low prices.

This is an effort to inject some much-needed cash into the firm and to keep it alive for what could be a valuable few extra days.

Edited March 9, 2012 by Saving For a Space Ship

[Sour Mash]

Stating the bleeding obvious but if they can't stock titles from publishers (that are fairly big titles) - that mush shurely mean they're close to the edge (like properly).

I can't see it being easy doing a pre-pack sell after going into administration considering the suppliers are few? I.e. anyone having dealt with GAME before won't be too keen dealing with them again?

Or who knows. I don't.

You have to wonder how this pre-pack chicanery works at all .. Surely no supplier owed money is going to want to do business with the 'new' owners after the way that they have been stiffed?

Or is it the case that people are so desperate for business that they have no other choice but to hope to make more money supplying as nothing will bring their lost money back?

[moonriver]

O/T, does anyone know where I can actually buy ME3 for PC then? Can't be arsed to order it online and wait. Want to play it at the weekend.

Bought a pc one a few hours ago for relative from Tescos Extra store, cost £28. , but he can't get on to use it so far. Seems to be a problem with the Origin account, which he is still trying to sort out.

This particular Tescos had run out of X Box ones, but had plenty of pc ones.

[SNACR]

You have to wonder how this pre-pack chicanery works at all .. Surely no supplier owed money is going to want to do business with the 'new' owners after the way that they have been stiffed?

Or is it the case that people are so desperate for business that they have no other choice but to hope to make more money supplying as nothing will bring their lost money back?

The latter - Depending on the finance structure of the phoenix outfit suppliers might still get credit cover - and that's all that matters - and if there's wages to be paid then they go uninsured.

Edit to add: Assuming you operate sensible credit control and don't continue supply when there are overdue invoices outstanding you shouldn't get turned over for much more than 60 days of supply at your cost (assuming no credit insurance). Bear in mind you've probably had ten years of profitable business from the customer the last invoice not getting paid isn't too bad a deal - some people do get irrationally over-agitated by bad debts (which are an inevitable cost of extending credit).

If writing off one customer's overdue invoices is enough to topple your business, you've either wilfully ignored credit control red flags or you're not really a business at all and have lazily become a parasite feeding off one big customer.

Edited March 10, 2012 by Soon Not a Chain Retailer

[Ash4781]

I thought they would atleast wait until the new consoles arrived. Though the console makers are struggling themselves (Nintendo, Sony)

[Errol]

GAME "has two weeks to turn its fortunes around"

Embattled high street shop GAME "has two weeks to turn its fortune around", according to a new report.

http://www.eurogamer.net/articles/2012-03-09-game-has-two-weeks-to-turn-its-fortunes-around

[Snafu]

The latter - Depending on the finance structure of the phoenix outfit suppliers might still get credit cover - and that's all that matters - and if there's wages to be paid then they go uninsured.

Edit to add: Assuming you operate sensible credit control and don't continue supply when there are overdue invoices outstanding you shouldn't get turned over for much more than 60 days of supply at your cost (assuming no credit insurance). Bear in mind you've probably had ten years of profitable business from the customer the last invoice not getting paid isn't too bad a deal - some people do get irrationally over-agitated by bad debts (which are an inevitable cost of extending credit).

If writing off one customer's overdue invoices is enough to topple your business, you've either wilfully ignored credit control red flags or you're not really a business at all and have lazily become a parasite feeding off one big customer.

Interesting perspective. I was reading up on the next xbox console which won't even use a disc drive (i.e download only possIble or memory drive thingy that can be moved). That must kill off these game retailers, no?

[Georgia O'Keeffe]

I thought they would atleast wait until the new consoles arrived. Though the console makers are struggling themselves (Nintendo, Sony)

As Snacr highlighted, its all about the credit, if insurers wont cover the suppliers it will be cash on demand, no major supplier is going to be bellended enough to supply goods on credit to the likes of Game in its current state without insurance cover so they are going to have to whistle for those new consoles

Edited March 10, 2012 by Tamara De Lempicka

[Saving For a Space Ship]

10,000 Game workers may lose job

http://www.google.com/hostednews/ukpress/article/ALeqM5juutRY_BfIExLROoW6u_RhADxKtw?docId=N1035361331466622901A

Game has put itself up for sale in a last-ditch bid to stave off financial collapse.

Its quarterly rent bill is due in a fortnight and failure to pay its landlords could push it into administration, jeopardising 10,000 jobs and wiping out investors.

The Sunday Times newspaper said advisory firm Rothschild has been appointed to find a buyer for the business, which includes 600 UK shops,

but that completing a deal in such a short time-frame will be difficult..........

The management will console each other

Edited March 11, 2012 by Saving For a Space Ship

[200p]

"Game has put itself up for sale"

Erm these are listed on a public exchange so this company technically is for sale anyway.

Ah, I think I get it. Great news again then announced over the weekend. Expect these to be suspended Monday morning.

[200p]

The advfn board has posters advising people to use their Game Gift Vouchers, this is probably a good idea.

[thombleached]

The advfn board has posters advising people to use their Game Gift Vouchers, this is probably a good idea.

Just popped down there. Seem to be doing good deals on used and new consoles. I picked up the limited edition of gears of war 3 for £12.98 new. If anything it's a nice bookend.

As others have said, the online prices in the used section seem to be where the main discounts are. There policy for mass effect 3 does seem silly, if it was there today I would have bought it.

[CrashedOutAndBurned]

Apple has the AppleTV. It's a fairly anaemic device that lets you stream stuff.

Apple have already killed off Nintendo in the handheld space and damaged Sony with $1.99 games on iPhone/iPad.

Surely they could throw their cash mountain at making a powerful console with an App store and cheap disc-free games?

Already, there are plenty of app stores for PC where you can download games.

It's pretty obvious that bricks and mortar shops like Game are a console generation or two away from oblivion.

[Saving For a Space Ship]

I was in the Bishops Stortford branch of Game yesterday and the staff were telling customers that they couldn't see the business lasting another week.

http://www.rllmukforum.com/index.php?/topic/257461-is-game-finished/page__st__3330

[Ash4781]

Any news? Are the shares still trading?

[stuckmojo]

Bought a pc one a few hours ago for relative from Tescos Extra store, cost £28. , but he can't get on to use it so far. Seems to be a problem with the Origin account, which he is still trying to sort out.

This particular Tescos had run out of X Box ones, but had plenty of pc ones.

Thanks. I managed to get the last one they had in Asda (pc one 29£).

I was worried about the "rumours" of the game being shit, but it's the same formula. I like it so far.

As for GAME, them and EA needs their ******** kicked hard. People were struggling finding the games they wanted.

[keef]

As for GAME, them and EA needs their ******** kicked hard. People were struggling finding the games they wanted.

Share price down to a penny, Sky News & BBC website reporting on serious problems now:

http://www.bbc.co.uk/news/business-17336697

I bought 5 pre-owned games in my local Gamestation for £8 yesterday; guy in front of me bought £100 of vouchers, I considered stopping him but he'd probably have told me to **** off so I left him to it ...

[Tin Foil Hat]

Ok I have near a hundred quid in vouchers or gift cards for game. If they go tits up do I lose it? if I use the card online and they go tits up before delivery do I lose it?

[Lambie]

Ok I have near a hundred quid in vouchers or gift cards for game. If they go tits up do I lose it? if I use the card online and they go tits up before delivery do I lose it?

Assume yes. buy now.

[The Masked Tulip]

Ok I have near a hundred quid in vouchers or gift cards for game. If they go tits up do I lose it? if I use the card online and they go tits up before delivery do I lose it?

No expert but I would say there is a risk. If Game went bankrupt today I doubt you would see your money on those cards. By the look of things, they ain't going to be getting many of the new game titles in from now on so they can only go downhill I guess unless they get a big injection of cash.

If I had such gift cards I would be spending them today.

[Tin Foil Hat]

Assume yes. buy now.

Cheers dude will do. There are gamestation shops nearby I wonder if I can use them there.

[moonriver]

If I had such gift cards I would be spending them today.

I agree, we spent all ours over the weekend, and traded in the remaining Game loyalty points for Playstation network card, Nintendo eshop card, and itunes card.

[moonriver]

There are gamestation shops nearby I wonder if I can use them there.

Don' t think you can do that, so worth checking with them before you head down to Gamestation.

[200p]

Wow nearly 300m shares traded today, about 10x normal volume. These are still trading now, and I can see the gamblers are in, buying chunks. Unless they have the inside information, its best to stay clear.