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GAME goes into administration, bitches


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Struggling video games retailer Game Group has said it intends to file for administration.

 

Earlier, shares in Game were suspended "pending clarification of the company's financial position".

 

The firm said talks with stakeholders and other parties had not made enough progress to offer "a realistic prospect for a solvent solution".

 

Game has seen its business eroded by competition from online-only retailers, such as Steam and Amazon.

 

Last week, the retailer confirmed that a number of suppliers were refusing to do business with the company.

 

The group, which is headquartered in Basingstoke, has 1,300 stores worldwide, including 600 in the UK.

 

It said the business would continue to trade and discussions with lenders and third parties would continue.

 

'Over-expansion'

In an earlier statement on Wednesday, the firm asked for its shares to be suspended, saying the value of the company had been eroded.

 

Shares in Game closed at 2.39p on Tuesday, having fallen from 62p a year ago.

 

Game acquired GameStation in 2007, adding hundreds of new stores to its portfolio. Piers Harding-Rolls, head of games at IHS Screen Digest, said that with hindsight, this move could now be seen as over-expansion.

 

"Whilst it reaped the reward of this in 2008, when lots of content was sold thanks to new consoles and handheld devices, the packaged game market has since declined," he said.

 

But he added that there was still a place for a large specialist games retailer on the High Street, with 70% of spend on games content in the UK still in the form of physical media.

 

http://www.bbc.co.uk/news/business-17455742

 

Retailer Game, owner of the Game and Gamestation chains has entered administration. The chain has 1,270 outlets in Europe and Australia and rumors have circulated for months concerning unrest at the highest levels of the business. It was unable to agree deals with publishers Capcom and Electronic Arts for the latest titles, meaning it had to turn away customers looking to buy Mass Effect 3 during its blockbuster opening weekend. After the board informed shareholders that "it's uncertain any of the solutions [...] being explored by the board will be successful," the company's share price fell by 71 percent. A week later, the company withdrew its share listing from the London Stock Exchange as its share value collapsed to from 62p a year ago to 2.39p. A statement released today said that insufficient progress had been made in finding a rescue solution, but the company will continue to trade while talks continue:

 

"Further to this morning's announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business. The board has therefore today filed a notice of intention to appoint an administrator. In the short term the Board's intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium."

 

http://www.engadget.com/2012/03/21/game-goes-into-administration/

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My first reaction:

 

Suck on my dick Game. You could've been a good company, but you chose to price high and attract the youthful idiots and family members buying gifts, rather than provide a service for the folk who would keep on coming back. Suck it.

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Guest icemanblue

My first reaction:

 

Suck on my dick Game. You could've been a good company, but you chose to price high and attract the youthful idiots and family members buying gifts, rather than provide a service for the folk who would keep on coming back. Suck it.

 

Same here. Massive bunch of twats, including the majority of those that work there. Especially the management.

 

Does this mean we're going to get some serious bargains?

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My first reaction:

 

Suck on my dick Game. You could've been a good company, but you chose to price high and attract the youthful idiots and family members buying gifts, rather than provide a service for the folk who would keep on coming back. Suck it.

Pretty much my take on Game over here as well. The one close to me closed about a year ago, can't say I've missed it, get all my games from the UK these days anyway. Don't know where I'll go to trade my games now though, not that I got loads for them, but I really don't need more games lying around my house.

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Guest ObiChrisKenobi

My first reaction:

 

Suck on my dick Game. You could've been a good company, but you chose to price high and attract the youthful idiots and family members buying gifts, rather than provide a service for the folk who would keep on coming back. Suck it.

 

Pretty much. Turned their back on the gamers and instead focused on the 'Top 10' High Street Wanderers looking for gifts, totally ignoring the fact that those guys are going to come and buy FIFA/COD/etc regardless. Meanwhile the gamers are getting fed up with the lack of true retro games available, the insanely marked up pre-owned alongside the ever diminishing PC sections.

 

Gone were the demo units (with those that remained hardly switched on). No real 'events'. No time for the customer with customer service being pushed out of the window.

 

"Say hello within 30 seconds. Serve them within 2 minutes. Push as much gameware crap onto them as you can by the time they leave the store."

 

They should have just allowed customer service people to do their roles, get to know their customers, talk to them. Share experiences of games they have played, learn from each other about cool and interesting little games they may not have been aware about (expanding product knowledge)... but no. When I was working there I did manage to 'get to know' the regulars that would come in. Found out one worked for Midway, so learned a fair bit about what was coming out and what it was like, etc.

Used to give those guys left over promotional crap we'd be sent too. Not saying it was the highlight of their day, but I'm sure they'd appreciate it more than it being hoyed out. These are the customers that would have bought all the shit you're trying to push on the 'Top 10' gift buyers. The nerds buy the Mario Plushie. The Toad Keyring. The Halo 3 T-Shirt. High Street Mom isn't going to be too interested.

 

I wonder if anyone will be brave enough to open another computer games specialist store (that isn't pre-owned centric). Is there space for a Computer Games Store/Arcade combo? It sells games, and has demo units/arcade machines inside too. In my mind it sounds great, and its something I'd like to visit. Make people feel welcomed, and not disliked for spending more than 10 minutes browsing without buying anything. Even if they're spending an hour in your little store without buying anything, that must count for something in regards to customer loyalty and future purchases?

Whenever we had people playing the demo units in the store I was in the manage would time them and kick them off after 10 minutes!

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HMV in town have a decent amount of demo units downstairs. Could see them trying to be more game focused now their only real high street competitor has gone, they'd have to bring their prices down like.

 

Can't say I'll miss Game, can't remember the last time I bought a game from an actual shop instead of online. Will also be nice to see the end of all those stupid Game exclusive pre-order bonuses and the likes.

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game and station will die a death

like everybody else i'm not that arsed as online is better and these greedy cnuts are still charging £40+ for games like fifa and cod

 

what i dont like is that its potentially 6000 people now unemployed and more than likely heading straight for the dole line

 

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hmm what will i do for games!!!

 

Doesn't fuckin matter anyway cos im sick of gaming, its fucking con!!!

 

Gaming used to be cool, now its all about the next wank game franchise to crawl out of a production house.

 

The same shit repainted and flogged for 60 quid.

 

Fuck off!!

 

Im looking at you COD, FIFA, Pro EVO and NHL or any other EA spunk jam.

 

 

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Instead of looking how they could innovate in response to the growth of online retaielrs and downloadable content (by offering something you can't get online) they attempted to eliminate all bricks and mortar competition and thought that would do the trick.

 

They also did everything they could to abuse their position, basically telling publishers and games companies that if it didn't get on their shelves it wouldn't sell, so play ball or else.  Then when things happened like the Wii and DS Lite shortages, they got pretty much all the stock in the country.  You couldnt get the units anywhere else and, surprise surprise, they'd 'sold out' of just the consoles.  But they had a fucking shit[ton of 'bundles' containing Imagine Babies, Super Fruit Fall,  a shitty GAME branded case, headphones, games cases, extra styluses, a dust cover and fuck knows what else, all for the bargain bundle price of £320 or whatever.

 

Robbing arrogant bastards, delighted to see them go under and allow some one with a clue to fill the gap in the market.

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Guest ObiChrisKenobi

Instead of looking how they could innovate in response to the growth of online retaielrs and downloadable content (by offering something you can't get online) they attempted to eliminate all bricks and mortar competition and thought that would do the trick.

 

They also did everything they could to abuse their position, basically telling publishers and games companies that if it didn't get on their shelves it wouldn't sell, so play ball or else.  Then when things happened like the Wii and DS Lite shortages, they got pretty much all the stock in the country.  You couldnt get the units anywhere else and, surprise surprise, they'd 'sold out' of just the consoles.  But they had a fucking shit[ton of 'bundles' containing Imagine Babies, Super Fruit Fall,  a shitty GAME branded case, headphones, games cases, extra styluses, a dust cover and fuck knows what else, all for the bargain bundle price of £320 or whatever.

 

Robbing arrogant bastards, delighted to see them go under and allow some one with a clue to fill the gap in the market.

 

That was such a shitty move to be honest. Really didn't agree with it.

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Doesn't TT work there?

 

Not any more, start me new job on Monday. :)

 

Sad to see it go as I've had a great time, but understand fully why it is where it is. Fingers crossed my work colleagues land on their feet like I have elsewhere, they all deserve better than this, collectively best set of people I've worked with and that is the shame of it all for me.

 

 

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My first reaction:

 

Suck on my dick Game. You could've been a good company, but you chose to price high and attract the youthful idiots and family members buying gifts, rather than provide a service for the folk who would keep on coming back. Suck it.

Pretty much my take on Game over here as well. The one close to me closed about a year ago, can't say I've missed it, get all my games from the UK these days anyway. Don't know where I'll go to trade my games now though, not that I got loads for them, but I really don't need more games lying around my house.

 

Set up your own store based on the grainger games model.  Fk it I might come to scandanavia and do it myself if it doesnt already exist

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What is the Grainger Games model, out of interest? Interesting to see how they've bucked the trend and flourished, whenever I've been in, I'm never particularly bowled over by the prices compared to what's available online.

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What is the Grainger Games model, out of interest? Interesting to see how they've bucked the trend and flourished, whenever I've been in, I'm never particularly bowled over by the prices compared to what's available online.

 

I've never been particularly impressed either. But I believe "the model" is basically importing shit from abroad, being dickheads and offering a load of trade-in games.

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My first reaction:

 

Suck on my dick Game. You could've been a good company, but you chose to price high and attract the youthful idiots and family members buying gifts, rather than provide a service for the folk who would keep on coming back. Suck it.

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What is the Grainger Games model, out of interest? Interesting to see how they've bucked the trend and flourished, whenever I've been in, I'm never particularly bowled over by the prices compared to what's available online.

 

I've never been particularly impressed either. But I believe "the model" is basically importing shit from abroad, being dickheads and offering a load of trade-in games.

 

Don't forget making a complete arse of yourself at high profile events such as award shows.

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My first reaction:

 

Suck on my dick Game. You could've been a good company, but you chose to price high and attract the youthful idiots and family members buying gifts, rather than provide a service for the folk who would keep on coming back. Suck it.

Pretty much my take on Game over here as well. The one close to me closed about a year ago, can't say I've missed it, get all my games from the UK these days anyway. Don't know where I'll go to trade my games now though, not that I got loads for them, but I really don't need more games lying around my house.

 

Set up your own store based on the grainger games model.

 

I know an excellent wholesaler of erotic dwarves.

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What is the Grainger Games model, out of interest? Interesting to see how they've bucked the trend and flourished, whenever I've been in, I'm never particularly bowled over by the prices compared to what's available online.

 

GG:

 

High prices

Shite trade in value

Low warranty on pre owned consoles

Tiny shops

No pods

Crap website

Cuntish staff

 

But have Well placed shops, lower overheads, minimum staff who leave you to get on with browsing and grey imports.

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If it hadn't happened today then it would have happened sometime in the next year or two anyway.

 

A huge number of PC games are being sold through, or tied to, Steam so buying the actual physical box is no longer necessary and online traders can offer far better prices than high street retailers can if you want to buy the physical media or a title that's not on Steam.  Consoles are apparently going down the same route with the next XBox rumoured to have no optical drive.  Add to that the prices on Steam are often better with the number of offers they have and I imagine that future consoles going down the digital delivery route will offer similar special offers and you are left with a business model that's being phased out very quickly.

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Guest neesy111

All stores selling just mainly media content are doomed to failure eventually.

 

Ebooks, Music, Movies, Games, Software.  Just about everything is digital downloaded / streamed nowadays.

 

Next gen consoles will be the final deathbed for the physical media games.

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