That will lead to a right mess.
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UK Retailer GAME is dead | Brera's Lament
- Thread starter CrunchinJelly
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That will lead to a right mess.
I'm wondering how big an 'area' is. More specifically, I'm wondering if the Templar's Square Gamestation is far enough away from the Oxford City Centre GAME (a shade under three miles) to survive. It's generally struck me as getting decent footfall, at least, although I glanced in through the doorway yesterday and the shelves weren't picked completely clean; I'm not sure if I should take that as a good sign or not.
I like that Gamestation, and I get on well with the staff, I do hope they survive. Indeed, is there any way we can actually find out which is still open without wandering down there?
JonathanEx
Member
It was announced that they intended to appoint an administrator, and that PWC would be the one of choice. But it hadn't actually taken place yet. Unless you're referring to above, then yes, but it's nice to get more confirmation.
I was working for Music Zone (after previously worked for MVC before Music Zone bought them) when they went into administration. It wasn't a fun experience, with customers wanting to physically attack us for not honoring their gift certificates and the like.
Lost of lot of hours of wages, too. My sympathies for everyone who still works for Game Group.
Lost of lot of hours of wages, too. My sympathies for everyone who still works for Game Group.
JonathanEx
Member
CrunchinJelly
formerly cjelly
You mean an actual journalist is reporting on this story for once?
Gamestation actually seems to have been affected a lot less than GAME in the past few weeks. We still have relatively decent levels of stock (pre-owned at least), whereas the GAME in town has been needing our overstock just to have something to sell. We've had a lot of customers who didn't know we were the same company either. Those who do have been polite, wishing us good luck and hoping that we survive.
Fruitster
Member
Bloody hell. The general public really can be bastards sometimes - losing one's job is bad enough, and to then get threatened by douchebag customers too? Terrible.
I feel massively for the staff right now. Best wishes to them and hope they can get back on their feet quickly.
Azure Phoenix
Member
You wouldn't believe how many customers have been gloating about the company being in administration already. It's just going to get worse from today.
Sensitive.
So here's the latest from MCV, an email sent by the CEO on Friday.
Fruitster
Member
Oh sadly I do believe it. I used to work in retail management many years back, and that experience forever made me think badly of the human race in general. I get some people not being sorry to see the back of Game as a company, but to take pleasure in thousands of people losing their jobs - that's just callous. Best of luck to the staff again.
Kazenone
Member
I know Cambridge when I see it! Might have to pop down to either store and see if there's anything worth buying.
Thanks, we love you too.
I'd be surprised if you found anything, if anything the prices have gone up since the sale started, and I didn't see any massive bargains. DS games seemed cheap though so maybe you can find something in that section that interests you.
Yeah - we got that email last week - it didn't really strike me as attacking the media - but anything for hits right MCV?
I'm totally ignorant of these things, so fill me in - what happens to existing shareholders in this situation? Say the company is sold as a going concern...are the proceeds of the sale distributed to the pre-existing shareholders?
I'm guessing if it's not sold as a going concern, but assets are liquidated, creditors would be paid first in a certain order, and shareholders would likely not receive anything?
I'm guessing if it's not sold as a going concern, but assets are liquidated, creditors would be paid first in a certain order, and shareholders would likely not receive anything?
Dr Frasier Crane
Member
http://www.mcvuk.com/news/read/game-enters-administration/093359
Administration with PwC confirmed. Good luck to all our GAME colleagues...
Administration with PwC confirmed. Good luck to all our GAME colleagues...
awanderingsoul
Member
And here it is, the official statement confirming administration
http://www.mcvuk.com/news/read/game-enters-administration/093359
http://www.mcvuk.com/news/read/game-enters-administration/093359
The thing is, if they really cared, GAME could have combatted this by at least making the attempt to be a bit more transparent about what was going on. But instead they chose to market their closing down sale as a "Spring Clean", and continued to push preorders and extended warranties even when it was painfully obvious they weren't going to be around to honour them. Even today there is no sign in stores that they're actually going to be closing down.
One customer seemed really nice. After I explained to him I couldn't honour his certificate, he very calmly said "I understand this isn't fault, so could I speak to your manager please?"
So of course, I get my manager, a real nice lady. Suddenly the guy explodes, screaming "I want my fucking money back". All she could do was explain that she wasn't able to do that, even legally. The guy took the child pushchair he was holding, with the kid still inside it, and swung it into my manager's legs, calling her a "dog-faced dyke" and then stormed off.
It was fucking unreal.
You get to see a lot of horror stories when you work in retail for a large chain. Independents have it easy: they can just tell someone to fuck off without repercussion. You have to be patient if working for a big company though as image is everything.
grandmastashi
Member
There's been far too much speculation over the past few weeks reported, so it was right to call them out on that. But it's no surprise seeing a failed boardroom attacking the media to divert attention from their own failings.
They discussed this on the IGN UK podcast on Friday (I know, I know... I needed a quick cast!) and the general feeling there was that the staff have felt the brunt of this speculation more than most. Realistically though, the problem *HAS* been with the management. All that was really reported was that "X game will not be stocked now", followed by "Spring Clean is clearly a firesale". The only proper speculation came last week when talk of buyers was being thrown around, and that was COMPLETELY through MCV!
Yes, it hurts to read about speculation regarding your job through other "unofficial" channels, but that's the nature of the world right now. Things were moving so quickly with the situation that a lot of info got put in one place at a rapid rate, which then spiralled out of control!
JonathanEx
Member
MCV tweets that stores are finding out about closures. All the best to the GAFfers particularly, let us know what happens.
Suppose I should update the website.
Suppose I should update the website.
What kind of traffic are you getting on that thing, anyway?
Another question... it seems like there's a plan ready to roll re. store closures as soon as they entered administration. How does that happen? Was PwC crafting that in advance, or was it something the board prepared as a 'help' to any would-be administrator? Guess just wondering how long these specifics were worked out for.
I also have a feeling my local Game will be one going. It is - or was, I believe - the busiest Game store in Ireland but it's only two doors down from a Gamestop...
I also have a feeling my local Game will be one going. It is - or was, I believe - the busiest Game store in Ireland but it's only two doors down from a Gamestop...
JonathanEx
Member
3000 on the day it went up (2 weeks today), 500 or so the 2 days following, a little bump when some news happened. Still hitting 50+ on dead days so might as well keep it right.
It might even pay for itself too.
j0hnny_385
Member
soooo, I'm just gonna ask this vulture question here:
can we expect any sort of "all must go" fire sale?
can we expect any sort of "all must go" fire sale?
JonathanEx
Member
yeah, two weeks ago.
Pie and Beans
Look for me on the local news, I'll be the guy arrested for trying to burn down a Nintendo exec's house.
That was pre-owned though. I think people are flapping above for firesale of new stock, hardware (other than Vita of course). Wouldnt mind picking up a new 360 model for some ridonk price like £50.
j0hnny_385
Member
both of you are talking about in store sales, right? I was thinking online, because that "sale" a couple of weeks ago was really shitty. absolutely nothing of interest whatsoever...
JonathanEx
Member
The admins don't need to flog everything off though, do they? If they can sell the chain, it's probably good for stock to be included too. If they can't and we're really up shit creek, they could probably sell it off bulk to get more than from us surely.
Woolies were the distributor too in their situation which was a bit different.
Woolies were the distributor too in their situation which was a bit different.
CrunchinJelly
formerly cjelly
Have you looked at their website? They have about 10 games in stock.
Keyser Soze
Member
Run...
The bank will have requested that Pwc prepare a contingency plan. The next thing to do will be to time the insolvency i.e. before the rent quarter is due. Management assistance will have been required to do this.
Was it mentioned that the CEO has resigned?
The first stores close it's doors.
Good look to all the employee's.
The first stores close it's doors.
Good look to all the employee's.
The stock still belongs to the company, Pwc are merely custodians of it. Of course, their fees will be deducted before the creditors get their dues (whatever that looks like).
Psychotext
Member
I wonder what sort of golden parachute he'll take away with him.
14,000 copies of pes2008
CrunchinJelly
formerly cjelly
MCV saying 300 stores will be closed. That's about half.
Should have happened 5 years ago.
Should have happened 5 years ago.
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