PriceWaterhouseCoopers’ Kate Warwick has issued a press release concerning the administration process for GAME Australia.
Warwick, a PwC parter, said: “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.”
“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.”
While it is still not 100% certain that the chain will close, this move will undoubtedly mean that any chance it has of survival will involve massive strucutral changes.
As of the moment, game is continuing to trade, although there is a report that it will not be fulfilling orders for Diablo 3.
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