GAME Group enters administration
Shops being closed, websites taken offline
GAME Group, the UK's largest specialist bricks-and-mortar video game retailer, has now formally entered administration. It will now have to find ways of paying its creditors the money owed, which is estimated to be £180 million.
Company CEO Ian Shepard has subsequently stepped down from his position to allow the administrators to move in.
The websites for both GAME and Gamestation have been closed by the administrators MJA Jarvis and SD Maddison. All orders placed through the website are being reviewed, but it's fairly safe to say that - for now, at least - they won't be fulfilled.
More worryingly, reports are surfacing today about shops belonging to the group already closing, although the exact number and locations have yet to be confirmed.
Early reports from Twitter suggest that even the flagship Gamestation store in Birmingham has been closed.
MCV