Game Australia to be Liquidated
While Game Group was saved in the UK by Comet owners OpCapita, down under things haven’t been quite so rosey, with administrator PwC unable to find a buyer. This has led to the firm announcing its liquidation, meaning the 264 remaining employees will be let go and all stores still standing will be shut down. 17 people from the head office will also be made redundant as part of the move.
The PwC statement reads: “with regard to current discussions with interested parties, it is not possible to continue to trade these stores.”
Head of administration for the Game Group at PWC, Kate Warwick released a statement too: “This is a difficult time for employees and closing the stores was not a decision we made easily. However it is not financially viable to continue to operate at this level at this time.”
“PwC has been in touch with the Federal Government Department that deals with General Employee Entitlements and Redundancy Scheme (GEERS) and will assist the employees with their applications.”
It was initially thought that some of those originally interested in the UK arm of Game would instead pick up some of the overseas properties, including the Australian branch of the business. Unfortunately though, no one has been found to save the firm.