GAME goes into administration, main Edinburgh stores stay open

A GAME Shop: Open For How Long?

GAME, Britain’s biggest video game retailer, has gone into administration today.

The retailer counts around 1.300 stores distributed between the UK and mainland Europe, 5.100 employees in the UK and Ireland, of which 385 are employed at its headquarters in Basingstoke, Hampshire.

In Edinburgh, Gamestation on Princes Street, the flagship store of the company, had already been closed in late 2011.

However, as the retailers are refusing to release any comments, it’s understood that the GAME stores in St. James Shopping centre and Ocean Terminal are still open as usual.

Meanwhile, it has already been reported that about half of the 600 UK shops have been closed during the day, and it’s unclear whether the rest will stay in business.

The company’s website is currently no longer accessible, and it names MJA Jervis and SD Maddison as the appointed Joint Administrators.

Mike Jervis has commented: “Despite these challenges, we believe that there is room for a specialist game retailer in the territories in which it operates, including its biggest one, the UK.

“As a result, we are hopeful that a going concern sale of the business is achievable”.

GAME, which was founded in 1991 as Rhino Group, had already been rumoured to be in troubled waters as their credit worthiness came under scrutiny just a few days ago.

As a consequence, three main suppliers, Nintendo, EA and Capcom, blocked the distribution of their most recent releases to the retailer.

The overall performance of the company in the last few months has been abysmal, with a £18 million loss for the year to 31 January being blamed on high fixed costs and an ambitious international expansion.

Woolworths’ final sale in Edinburgh

By Jamie Crossan

Last Woolworths store in Edinburgh closes.

Today saw the closure of Woolworths on Lothian Road. The British shopping institution had a final sale which included all their fixtures and fittings. Woolworths went into administration in November last year and today finally closed its doors.

Dunedin Napier News was there on the final day and our reporter sent us this report from the Lothian Road store.

Listen Here:

Woolworths closure prompts huge reductions

 BY Adam Couper  

up to 50% off in stores
up to 50% off in stores

Today sales began across 815 Woolworths branches after a buyer could not be found for the chain.The administrators are aiming to close some shops by the end of the year and this has lead to shops being busier than ever.

 Thomas Firoozi, 21, student said: “I come to Woolworths regularly I’ve never seen the place as busy. It’s manic in there and the staff looked very stressed.”

 

Members of the public seeking good deals are taking full advantage of the sales which in some cases give up to 50% off products.

 

Callum Nesbit, 21, student, said: “Yeah it’s very good, they’ve made huge reductions and I am here to take advantage. I’ve got a lot of my Christmas shopping done today and it’s fair to say I’ll be back. It’s a bonus with Christmas coming up.”

 

Shops such as Tesco, Poundland and Sainsbury’s have been watching events very closely with a view to buying shops in good location.

 

Woolworths were due to celebrate their 100th anniversary next year but with the company in over £380m in debt it’s looking future is looking bleak.

 

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