Bad News For Game

[platostotal]

That's pretty much an end of an era, but they did have odd ideas, when they bought out Gamestation didn't they order all pre-Ps2 hardware and games destroyed as they considered them N.C.V.(no commercial value) and whats with shelves with dozens of the same title on the same format, 3 or 4 would do it. But the real concern is if HMV go the same way. Sad days

[Ricky Chad]

It's came about really fast. Once the deal with EA and Capcom hit the wall.

I do like Game, but I started getting fed up with pushy salesman (in some stores) and over the top prices compared to companies like Grainger Games.
The staff used to beg me to buy preowned, of couse they did becuase they make more money on it.

But having said that, it was always nice to shop around, and Game always came across as professional. I will miss the store. It's getting to the point now, that I don't want to go shopping on the highstreet. Once Hmv go, there won't be much hope left.

[Bringer Of Funerals]

I always see Grainger Games as kids pissing about, where I am its like walking into a night club

[Ricky Chad]

Originally Posted by Bringer Of Funerals

I always see Grainger Games as kids pissing about, where I am its like walking into a night club

I know what you mean Bringer. But sometimes there prices can be outstanding compared to elsewhere. Not like I go in there to hang out and shoot the sh*t

[dream demon]

This is sad news, especially as my first job after leaving University was working for Game in Newcastle. Christ, that's over 10 years ago now. It started as a Christmas job when I was doing my MA, and I ended up staying there over two years. It was a very different company back then, though, where you would hang out and shoot the sh*t and play games even when you weren't working that day, and your mates would just wander in and hang out when you where at work - it was more like a drop in centre for game geeks!

I think the writing was on the wall when EA refused to let them have Mass Effect 3 (apparently because their credit was so bad). Game must have lost a shed load on that, and their competitors must have had made a killing.

The sad thing is, it's not even like they were cut from the same cloth as HMV, either, as they often had great deals in store. Even in the last few months I have bought older titles for £5-£10 which are still selling on Amazon et al for £20. I wonder if the likes of Asda and HMV starting to take in and sell pre-owned games has had an effect, especially the former as it would be hard for someone even of the size of Game to compete with someone like Asda. It's just another scalp for the Wal*Mart empire, I suppose.

Ah, well, 'sunrise, sunset' ...

RIP Game.

[keirarts]

At least one of the problems was a little firm called delloit.

Now this is all coming second and third hand so i'll use the legal term ALLEGEDLY (ie not a statement of fact.) But the game group when it got into financial trouble had a firm called deloitte helping them sort out the mess.

Well, check out back issues of private eye, but this was the same firm that was 'helping' woolworths before that collapsed into administration, then when the firm was liquidated the self same firm made a killing.

There was at least one great rescue offer from the company that rescued comet from the s**t a few years back that was rejected.

I dont want this to come across as any sort of statement of fact (all the evidence is circumstantial at best.) But if Game group gets liquidated check out whose making money from this. I'd wager cash the name deloitte springs up!

[dream demon]

An interesting article from Reuters US about Delloite:

UPDATE 2-Deloitte quits second Chinese firm as auditor fears grow | Reuters

'Deloitte was caught up in one of the most high-profile accounting scandals of last year when it resigned as auditor of U.S.-listed Longtop Financial Technologies Ltd, alleging the Chinese software maker had tried to falsify its financial statements and bank confirmations.

The U.S. Securities and Exchange Commission is investigating the case but has been thwarted by the refusal of Deloitte's Shanghai office to hand over its audit work papers.

The SEC has gone to the courts to try to force Deloitte's hand, but the auditor says it cannot comply as to do so could breach China's state secrecy rules.'

And here is a statement from Game Group on their corporate website:

Suspension from trading - The GAME Group plc

'The Board now considers itself to be unable to assess the business's financial position, and is of the opinion that there is no equity value left in the Group.'

An article in The Guardian about former CEO Lisa Morgan:

Game Group chief executive Lisa Morgan departs | Business | guardian.co.uk

'Morgan and the Game board had "agreed this was the right time" for a new chief executive to lead the company forward ... Morgan, who had run Game since 2006 and masterminded the takeover of smaller rival GameStation, has left to "pursue other opportunities".'

I'm sure she has.

And this is the bizarre and rather seedy story of the demise of the companies co-founder Peter Wickins:

Man jailed for murder in prostitute's flat: Businessman stabbed by jealous drug addict - UK - News - The Independent

I remember this happening, and there being a plaque at the Sunderland branch, but I had no idea of the actual circumstances of his death.

Capitalism - don't you just love it?

[keirarts]

interesting!

I do believe GAME was screwed over royally by those supposed to be looking after its welfare. Supermarkets and online shopping damaged the company but they didn't destroy it.

[Bringer Of Funerals]

277 Game stores have now closed, the 2 near me have

File:GAME store closed.jpg - Wikipedia, the free encyclopedia

[Demdike]

@ Dream Demon

Its not Deloitte who are Games administrators its Price Waterhouse and Coopers.

Game Group enters administration - FT.com