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GAME Australia Finds Itself in Hot Water as GAME Oxford Street Faces Possible Closure
Written Monday, May 14, 2012 By Richard Walker
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Just when you thought that GAME UK was out of the woods, unpaid rent could be jeopardising the future of the retailer's flagship Oxford Street store in London, according to a report on The Telegraph. Apparently, landlord Lazari GP is owed £100,000 in rent payments with GAME Group administrator PriceWaterhouseCooper (PWC) refusing to pay the bill on the grounds that it only inherited the store the day after the payment was due. Bailiffs could be sent in to drill out the locks.

The reponsibility for the rent bill supposedly rests with new GAME owners, OpCapita, while Lazari GP has the legal power to evict staff from GAME's Oxford Street store to move in new tenants. As if that wasn't bad enough, GAME's Australian arm is now facing troubled times ahead too, although PwC is apparently discussing the possibility of an acquisition with a "number of parties".

"Initially we will continue to trade all stores, operating these on as close to a 'business as usual' mode as possible whilst we get a clearer understanding of the current state of the business and actively pursue options to secure its future," a PwC statement sent to MCV Pacific reads. "Prior to our appointment, the company’s management had been exploring interest in investing in the business with a number of parties and we will look to see whether this interest can be harnessed to continue the business or part of it through the voluntary administration process.

"While we are still investigating the causes behind the Australian administration; the impact of the administration of its parent, an ambitious national roll-out combined with the current soft retail environment appear to be key factors.

"We are working on schemes aimed at giving customers some return on these claims if they are used to make additional purchases."

Downsizing seems to be a likely strategy for GAME Australia should it survive, meaning employees could face losing their jobs. A restructuring of how the retailer does business could also be an inevitable measure going forward. Here's that picture of GAME on Oxford Street that you all love. Again.

[Via MCV]




 
 

User Comments
 
Forum Posts: 14
Comment #1 by AndyBeans
Monday, May 14, 2012 @ 09:55:17 AM
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Never trust PwC to do anything properly, ever.

 
Forum Posts: 0
Comment #2 by kid_Jump94
Monday, May 14, 2012 @ 10:36:02 AM
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GAME needs to realise that everyone see's them as that greedy game company that overcharges for games! That they need to do what all good gaming stores are doing and offer new game at like 38.98 and theres another game that 35.97 and so on, that these are what sell, not the 39.99 on every f*ckin game... plus they could do with a revemp, use the GAME name but use another besides that pink and just offer a new approach, in my business opinion that is :)

 
Forum Posts: 1017
Comment #3 by nintendo64X
Monday, May 14, 2012 @ 10:58:05 AM
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At my local shopping centre there are 3 main places for games excluding the 3 other department stores.

JB-hifi, eb games, and game.

Jb is the cheapest of the 3, eb has exclusive collectors editions, what does game have?

Nothing sadly, their rewards program is better (to me) than eb's but their prices aren't competitive, only when they got stock that needs to go (scored black ops prestige edition for $100) is when they shine, but otherwise they clearly have nothing to compete...

Heck when I walk in its just me and one other customer, jb is full because of mixed traffic while eb has 5-6 minimum except for closing time...

GAME needs to step up, now.

 
Forum Posts: 14
Comment #4 by AndyBeans
Monday, May 14, 2012 @ 11:18:11 AM
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@kid_Jump94 Which stores are you talking about?

 
Forum Posts: 31
Comment #5 by bravelyforward
Monday, May 14, 2012 @ 12:27:31 PM
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Game needs to die off

Fifa 12 at Game here in UK, £42
Amazon.co.uk £25

Thats not the only one Im sure theres plenty more, its a joke. Amazon will kill off retail companies like Game with or without their joke of a reward points system.

 
Forum Posts: 0
Comment #6 by kid_Jump94
Monday, May 14, 2012 @ 01:15:49 PM
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@4 partically any, as for example hmv hav max payne 3 for 36.99 and game have it for would you guess it 39.99, and seeing as a large percentage of pre-orders are made online you'd expect game to on strategic online pricing to beat competitors but no, they still charge 39.99 even for ghost recon when shopto have it for 35.86, its just a mess and although theyve been around since i was a kid, they need to have respect for their main audience (gamers) :/

 
Forum Posts: 217
Comment #7 by ZACHSP8
Monday, May 14, 2012 @ 06:24:41 PM
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That is Games downfall, they don't even bother to try to compete with any other gaming shop, they sell for the RRP and that's it.

When they sell a game secondhand couple of weeks after release it's only about £5 off when the gamepass to play it online is more than that.

 
Forum Posts: 2095
Comment #8 by UndergroundHipHopHead
Monday, May 14, 2012 @ 09:00:53 PM
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Anything I've ever heard about game tells me that it isn't a good place to shop at. Amazon and ebay is what's up.

 
Forum Posts: 201
Comment #9 by allythebruce
Tuesday, May 15, 2012 @ 06:48:37 AM
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one thing I quite like about Game, you buy a game on special offer from Amazon or the likes, play it finish it and in most our cases platinum it, trade it in at game for sometimes more than we actually paid for it, I pretty much got ff13-2 and skyrim for £30 heh

 
Forum Posts: 11
Comment #10 by timewarp
Tuesday, May 15, 2012 @ 07:49:05 AM
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@5

Actually if that's true then Amazon need Game to survive. Think about this for a moment it was only by comparing the price to Game's insane pricing scheme that brought you to Amazon. They got your money because compared to Game their the better choice.


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