Last week it was announced that the GAME Group, the well known UK retail game company, was going to go into administration after not being able to solve its ongoing financial problems. This week, PwC, the company assigned to handle GAME Group's administration, announced that it has shut down 277 of GAME Group's brick and mortar stores in the UK and Ireland.
The closing of these stores means that 2,074 employees are now looking for work. In a statement, PwC's Mike Jervis said:
Our priority is to continue trading the business as normal while we continue to pursue a sale. The recent job losses are regrettable but will place the company in a stronger position while we explore opportunities to conclude a sale. My team and I will be doing all we can to help the affected employees at this difficult time.
The press release said that the remaining 333 GAME Group stores and its 2,844 employees will remain open for business as normal. However, both of the company's website stores, Game.co.uk and gamestation.co.uk, are currently shut down. A notice on both sites says that the administrator is "reviewing and processing orders placed on this website" and that "we will not be able to offer refunds or exchanges, unless your item is faulty or not fit for purpose."
In addition, a statement on GAME Group's Facebook page says that it has now suspended the use of the company's gift cards, which could mean that the value of a lot of people's gift cards in the UK have been rendered useless. Use of the GAME Reward card has also been shut down. The company will still accept pre-owned software for trade or points but not for cash. However, it will no longer accept any pre-owned hardware.