GAME Officially Collapses Internationally
GAME shutting up shop and hoping for a buyer...
According to a Reuters article today the management team at GAME have told investors that;
“It is uncertain whether any of the solutions currently being explored by the board will be successful or will result in any value being attributed to the shares of the company.”
That is to say that shares in the former gaming retail behemoth, which had lost 95% + of their value in the last 12 months, are now at the 1p level, basically rendering them “Trash Stock”. This, in essence, means that GAME is not worth anything, and thus is no longer a viable business in any form. End of GAME.
Whilst this is no surprise to industry watchers, it is no less saddening for all of us who grew up trekking to GAME to spend our hard earned pennies… they may only have days left on the high street, but GAME will live long in our collective gaming consciousness…
Most likely outcome here is either that GAME will simply shut up shop, or, hopefully for us gamers, that Gamestop will swoop in and finally buy GAME’s assets following official “administration” being invoked to wind it up.
Gamers… empty your rewards cards now… ’tis the end of an era…
- Richard “Rax” Burley
GAMEover.
It certainly looks that way!
It is crazy, isn’t it. I’m in shock.
I currently have a real feeling of unease for the gaming industry. So many games companies have had redundancies and closures. The retailers have been struggling for a while but for the biggest games retailer to fall is scary.
Arrrggghhh!