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Legend_in_blue

GAME retailer - in trouble

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not surprised there in trouble tbh, they charge over the top prices in store & they have generally not been updated with market change in the gaming industry.

I generally buy all my games & that online, sites like Shopto.net tend to offer better service compared to others Ive used.

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http://www.eurogamer...motion-launched

GAME has extended its firesale to hardware, and launched its "Spring Clean" promotion.

The shop has slashed prices across the board - for games new and pre-owned, hardware new and pre-owned, and accessories.

There's a raft of deals on hardware as part of the Spring Clean promotion. Catch 'em while you can.

Gamers have reported signs have been put up in their local stores to advertise the clear out of stock.

HotUKDeals has rounded up some of the most attractive in-store offers on hardware and Microsoft Points.

In store GAME is selling 1200 MS Points for £4.98. You can get 800 MS Points for £2.98.

Earlier this week Eurogamer was told by a source close to GAME that stores had put pre-owned on sale "to shift stock".

Last month GAME managed to convince its syndicate of lenders, led by Royal Bank of Scotland, to relax its debt covenant. But sources "close to the State-owned bank" told The Express it was running out of patience.

GAME Group was last week forced to issue a note to shareholders in an attempt to calm concern over its ability to stock new games. Its current stock issue with EA, which means it won't sell Mass Effect 3, FIFA Street, Tiger Woods 13 or The Sims Showtime, is "temporary", and both parties are working to make sure it doesn't happen again, GAME said.

GameStop was reported to be ready to buy GAME, but Eurogamer was told by a source that the US giant is one of several interested companies, buoyed by GAME's recent success with the launch of PS Vita in the UK.

GAME is apparently seeking more money to help it continue trading, but if fails, its banks will seek a buyout rather than a closure

.

Excellent, time to go and get myself some bargains then.

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  • 2 weeks later...

It's sarcasem.

The reason highstreets stores charge more its because their over heads are more due to higher rental and staff costs.

What i can not stand is the reasoning behind the prices on the PS store 55/60 pounds for new releases . I mean how can they justify that, I know their are still some costs involved but they save huge amounts on shipping and Manufacturing ect and the profit the shops add on plus you then don't get any resale value . It's the biggest rip off going in gaming terms .For my to download a game they would have to reduce the price dramatically .

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What i can not stand is the reasoning behind the prices on the PS store 55/60 pounds for new releases . I mean how can they justify that, I know their are still some costs involved but they save huge amounts on shipping and Manufacturing ect and the profit the shops add on plus you then don't get any resale value . It's the biggest rip off going in gaming terms .For my to download a game they would have to reduce the price dramatically .

I reckon there will come a time when all games will be download only. Possibly even the next-gen ones in a couple of years. Game makers say they are losing too much money on pre-owned games. Ridiculous and will put almost all game retailers out of business if it does go that way.

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Just seen they've started sticking the price sticker over the "2" on the Mass Effect 2 game boxes to try and con people into thinking it's Mass Effect 3 lol

lEkVa.jpg

Not only that, but they're clearly advertising Far Cry 3 on pre-order on the top shelf. That should've been ME3.

After the farce that was Far Cry 2, I doubt it'll turn things around - no wonder they're in trouble. lol

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Just seen they've started sticking the price sticker over the "2" on the Mass Effect 2 game boxes to try and con people into thinking it's Mass Effect 3 lol

lEkVa.jpg

lol That is pretty despicable.

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Sorry to be a spoilsport, but I think it's just coincidence. They're following the same price stickering policy I had to follow at HMV. Full price top right corner, followed by sale price followed by any promotion.

Unless the purple sticker is some kind of pre-order reminder, which could cause confusion.

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They've not had a new release in a month and people have been re/playing Mass Effects 1 & 2 in preparation for 3, so it could be.

Its a possibility. I struggled to get Mass Effect 2 again the other week. If it is then it sort of shows what kind of quality is about at the minute.

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Sorry to be a spoilsport, but I think it's just coincidence. They're following the same price stickering policy I had to follow at HMV. Full price top right corner, followed by sale price followed by any promotion.

Unless the purple sticker is some kind of pre-order reminder, which could cause confusion.

Correct. But bumping Mass Effect to 1 in their charts? :P

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Looks like this might be it.

http://www.mcvuk.com/news/read/report-game-talks-collapse-administration-sell-off-imminent/093340

Talks to save GAME have reportedly collapsed, with reports suggesting that it will enter administration tomorrow when an immediate sell-off of assets will begin.

The Express reports that the move will trigger a sale of GAME's most valuable assets in what it describes as “the biggest retail failure since Woolworths”. Thousands of jobs currently hang in the balance.

GameStop is believed to remain interested in some assets, although retail specialist Hilco has apparently withdrawn from negotiations. OpCapita reportedly tried to re-open talks on Friday but has once again been shunned.

GAME is likely to go into administration on Monday and the process of selling its assets will begin but this won’t be a pre-pack, where a company is bought immediately out of administration,” a source is quoted as saying.

There was contact between the banks and OpCapita late on Friday in the hope of reviving some sort of deal. The banks felt that selling GAME out of administration would leave them facing a colossal write down on what they invested.

But, in the end, they decided there wasn’t enough value in what OpCapita were offering. It wasn’t anywhere near 100p in the pound.”

GAME's rent day is today, with a bill of £21m now hanging over the chain.

Effectively, this means that if a pre-pack administration sale is off the cards the only hope remaining for GAME is that a buyer such as GameStop may choose to buy some of its strongest assets, like key stores and facilities.

It would, however, mean an end to The GAME Group as we know it. And possibly the closure of all or some of the world's GAME/Gamestation stores as early as tomorrow morning.

However, it should also be known that rumours about an imminent acquisition at the hands of GameStop continue to circulate, offering staff a glimmer of hope.

MCV will continue to pursue the matter and bring you the latest as and when we can.

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