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Game demise triggers redundancies
Tuesday March 27th 2012
More than 2,000 staff at Game Group will become redundant as the retailer plans to close half of its stores this week, its administrators announced.
PwC, which has taken over as administrator of the chain, said that 277 of its UK and Ireland stores will be shut leading to 2,104 job losses. However, it said the remaining 333 stores will stay open for business, securing the roles of 2,814 employees as they continue to look for a buyer for the now streamlined business.
Mike Jervis, joint administrator and partner at PwC, said: "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."
He added that the group had faced profit issues and serious cashflow in the past few months, which eventually led to its collapse into administration.
Copyright Press Association 2012
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