GolfGTIforum.co.uk
General => General discussion => Topic started by: The Mighty Elvi on 12 March 2012, 11:41
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http://www.walesonline.co.uk/business-in-wales/business-news/2012/03/12/supplier-problems-leave-retailer-game-in-danger-of-collapse-91466-30513204/
Keep your eyes peeled for some rock bottom bargains over the next fortnight.
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Yikes, stil haven't spent my £20 voucher!
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They already have "special" reductions in all stores! and looking at the stock now and future releases it hasn't looked promising for a while! (some game co's won't supply to them!)
b.t.w who put the link to Game.co.uk with 1200 xbox points at a fiver! I blame them for sapping the co's profits :grin:
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Yikes, stil haven't spent my £20 voucher!
+1
Might be smart to do it asap :grin:
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Get in and buy yourself the best value items, even if it's just points. That way you can make you're mind up later about what to use them for.
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Sad times I like Game. Oh well, best milk them for everything I can!
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Yikes, stil haven't spent my £20 voucher!
"If the company was to collapse, it is highly likely that the shops will carry on trading – either during administration, or more likely after being bought by a new owner. GameStop, the American retailer, is understood to be waiting in the wings.
However, any new owner or administrator has no obligation to honour the previous regime's vouchers or loyalty cards. An administrator's job is to secure as many assets as possible in order to pay the creditors, be they landlords or the taxman. Customers, sadly, are far down the list of their priorities.
However, if the company is taken on by another rival, there is moderate chance they will choose to honour vouchers and loyalty cards. That's because it will be in their interest to win over as much support as possible, as they try to restart the business. And the database of reward card customers is one of the key assets they will want to look after.
There are 18m Game reward card around the world, with an estimated £10m of points sitting on these cards. If you are concerned about losing the value of these points – and some holders have over £100 sitting on these cards – there is no harm trying to use up your points as soon as possible.
Voucher customers, however, are less valuable to any new owner as the cash has already been spent and booked in the business. Customers should spend these as soon as possible, if they have concerns about the future of the business."
Telegraph (http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9138731/If-I-have-Game-vouchers-or-reward-card-what-should-I-do.html)
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CHeers, going to try and pop in on staurday and see what my £20 can get me form the used selection.
nick
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CHeers, going to try and pop in on staurday and see what my £20 can get me form the used selection.
nick
By Saturday you might be-able to buy the company for that!!
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when I was in my local game buying forza last week I saw loads of cheap as chips games, many for £2 even saw some for 99p!
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when I was in my local game buying forza last week I saw loads of cheap as chips games, many for £2 even saw some for 99p!
Must've been preowned games. They were the only ones marked down when I went to Game yesterday. Brand new games were still full price
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Nearly there.
"Shares in the video games retailer Game Group have been suspended from trading "pending clarification of the company's financial position".
The firm has seen its business eroded by competition from online-only retailers, such as Steam and Amazon.
Last week, Game confirmed that a number of suppliers were refusing to do business with the company.
The group, which is headquartered in Basingstoke, has 1,300 stores worldwide, including 600 in the UK.
In a statement, the firm said the value of the company had been eroded, and had made the decision following talks with its lenders and a potential third party provider of finance.
"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.
"Therefore the company has requested that the listing of its securities on the Main Market of London Stock Exchange plc be suspended from trading with effect from 07:30 today."
Shares in Game closed at 2.39p on Tuesday, having fallen from 62p a year ago."
http://www.bbc.co.uk/news/business-17455742
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Hell of share price drop.
One of the last things I facilitated before leaving Micro-P was kitting out all their stores with new Samsung Laser machines and a contract for the consumables for the forseeable future.
:laugh:
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OUCH!
Won't be long now....
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OUCH!
Won't be long now....
Went into Administration this morning.
http://www.bbc.co.uk/news/business-17512143
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OUCH!
Won't be long now....
Went into Administration this morning.
http://www.bbc.co.uk/news/business-17512143
Even BIGGER OUCH! :grin:
Nothing about job cuts tho but I'm sure they come....just feel for thousands of people who will inevitable lose there jobs cus of this...
More people out of work, just what we need!
NOT!!!!
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(http://i482.photobucket.com/albums/rr182/the_flying_elvi/game.jpg)
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277 Stores to close immediately. 2100 job losses.
333 stores remain open.
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well both stores in York have shut (about lunchtime yesterday) and I was going to buy a few things today as well (and use my bonus points while I could!)
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Store Closures so far...
http://www.mcvuk.com/news/read/store-closures-begin-at-game-and-gamestation/093365
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when I was in my local game buying forza last week I saw loads of cheap as chips games, many for £2 even saw some for 99p!
Must've been preowned games. They were the only ones marked down when I went to Game yesterday. Brand new games were still full price
people still buy new games?