This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-17512143

The article has changed 8 times. There is an RSS feed of changes available.

Version 1 Version 2
Game Group goes into administration Game Group goes into administration, closing 277 stores
(about 4 hours later)
Britain's biggest video game retailer, Game Group, has gone into administration. Video game retailer, Game Group, has gone into administration, with the immediate closure of 277 stores in the UK and Ireland.
The group employs about 10,000 staff at its 1,300 stores, 609 of which are in the UK and Ireland. Administrators PricewaterhouseCoopers (PwC) said 2,104 employees would be made redundant this week.
The administrators from PricewaterhouseCoopers said that the retailer had suffered from high fixed costs and an ambitious international expansion. The remaining 333 stores will stay open as the administrators search for a buyer for the business.
PwC said that the retailer had suffered from high fixed costs and an ambitious international expansion.
Its business has been hit by competition from online-only retailers.Its business has been hit by competition from online-only retailers.
"Despite these challenges, we believe that there is room for a specialist game retailer in the territories in which it operates, including its biggest one, the UK," said one of the administrators, Mike Jervis. "Our priority is to continue trading the business as normal while we continue to pursue a sale," said one of the administrators, Mike Jervis.
"As a result, we are hopeful that a going concern sale of the business is achievable." "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."
Game Group employs 385 staff at its headquarters in Basingstoke in Hampshire, and about 5,100 in its stores in the UK and Ireland.Game Group employs 385 staff at its headquarters in Basingstoke in Hampshire, and about 5,100 in its stores in the UK and Ireland.
About another 5,000 staff are employed at Game's other stores, which are located in France, Spain, Portugal, the Czech Republic, Scandinavia and Australia.About another 5,000 staff are employed at Game's other stores, which are located in France, Spain, Portugal, the Czech Republic, Scandinavia and Australia.
"This decision is taken after careful consideration and ceaseless interrogation of every possible alternative," Game Group said. "This decision [to enter administration] is taken after careful consideration and ceaseless interrogation of every possible alternative," Game Group said.
The stores operate under the Game brand, as well as Gamestation.The stores operate under the Game brand, as well as Gamestation.
The company asked for its shares to be suspended last Wednesday and announced it was planning to call in administrators.The company asked for its shares to be suspended last Wednesday and announced it was planning to call in administrators.
It followed confirmation that some suppliers had stopped doing business with the retailer.It followed confirmation that some suppliers had stopped doing business with the retailer.
Do you or someone in your family work for Game? Are you affected by the issues in this story? Send us your comments and experiences using the form below.Do you or someone in your family work for Game? Are you affected by the issues in this story? Send us your comments and experiences using the form below.