Feeds

Game goes titsup in Australia

Administrator installed

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Competition from online retailers has claimed another casualty in the high street with the demise of the australian incarnation of chain store retailer, Game.

PricewaterhouseCoopers was yesterday appointed voluntary administrator of the UK-owned gaming company, which has over 500 Australian employees and 92 stores nationally.

The UK parent Game Group suffered a similar fate last month when PWC was appointed as administrator and negotiated a trade sale of the UK business to Baker Acquisitions Ltd, an entity overseen by OpCapita, for an undisclosed sum.

In the UK, PwC shuttered 277 of Game's stores but the new owners had assured staff that the remaining 333 UK stores would remain open and fully staffed. Kate Warwick and Greg Hall of PricewaterhouseCoopers will control and manage the Australian entity and continue trading all of the company’s 92 stores, operating these on as close to a 'business as usual' basis as possible.

The administrators informed creditors, staff and customers that they are currently getting a “clearer understanding of the current state of the business”.

Two creditors meetings have been set, one on 23 May, and if no resolution has been made in terms of a sale or other option the other is scheduled for 19 June.

The company is intending on honouring certain advance orders placed on the Diablo III and Max Payne new releases but will refund customer deposits. Existing gift cards, gift vouchers and credit notes for most of the products will be honoured at this point but can only be used for 25 per cent of the total purchase price.®

Top 5 reasons to deploy VMware with Tegile

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.