Game Group enter Administration, 40% of workforce laid off

(pic courtesy of @smilerfrancispd)

Today started what many believed the inevitable administration of Game Group. It has ended with the closure of 277 stores and the loss of 40% of its workforce. The company confirmed this morning that they had in fact appointed Administrators to take control with a look at streamlining the company to make it more attractive to possible investors. This also saw the MD for Game step down from his position.

At lunchtime both websites for Game and Gamestation were taken down and a holding message was all that was displayed.

Then the news came thick and fast, stories of store closures and the company wide stop on all refunds and returns. The Game reward card and Game gift cards can now no longer be used to redeem any monetary value.

At the end of the day, 277 stores have been closed and 40% of the workforce have been made redundant. That is over 2,100 people now facing a harsh job market. I just want to wish them the best and good luck. It's a sad to see the workers having to suffer for the mistakes of the managment. Let's hope that a buyer can be found before more stores and employees lose their Jobs (Hint: that's where you step in GameStop!)