Are game on the verge of going into administration again?

31
Found 28th Dec 2013
Just wondering if anyone knows anything?

Read it on another page.

Bit worried as my son has a fair amount of vouchers from Christmas.

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The next-gen launch saved them to be fair but they will fall before 2020.

I would take him today to spend the vouchers. I've not heard that they're going again but it wouldn't be wise to hold on to lots of Game vouchers

Just before Christmas they we talking about a possible floatation again.

Can see it to be honest. But not an insider....

Original Poster

Very much planning to spend ASAP.

Waiting on a refund too that they are not forthcoming with for goods that didn't arrive before crimbo

im not banging on at you op but cannot undetstand peoples love of vouchers. Its like cash just wasnt good enough.

You would of thought the release of the next generation consoles would keep them going for a while.
I also read there was a possible flotation in the wind.

splatsplatsplat

im not banging on at you op but cannot undetstand peoples love of … im not banging on at you op but cannot undetstand peoples love of vouchers. Its like cash just wasnt good enough.



I agree, "here's some 'money' you can spend in a couple of places, oh and if you don't spend it by a certain time you'll lose it"

Rather than these pesky £20 notes I use...

Floating on the stock exchange in order to bring in some much needed investment, I wonder who will be daft enough to fall for that and actually buy shares in them.

(no doubt i will get some stick) The last company that took a chance on and i bought shares for when they floated (and have bought more since) was Rangers FC. Only because the value of the assets and potential rise in revenue over the next 5 years warranted it, just waiting until they get back to Eurpoean football.

However i cannot see where Game is going to make any additional revenue, their circumstances have not changed, they have no new revenue streams and they are obviously not doing well as it is. Personally i will be staying well away if they do float, although i'm not sure they will be allowed to as they stand currently.

After receiving another used game this morning that was sold as new I hope so!

They have been opening new stores recently which is not the usual actions of a business in financial difficulty.

Original Poster

I very much agree on the voucher front.

But they came from relatives who thought it was safer to send vouchers than cash in the post!
I have since explained their logic is flawed!

They'll have done pretty well recently and their online and trading of games towards ps4/xbone new releases will see them good.

Don't see them going under yet. Although they'll not see my cash in their stores now!

I would suggest spending them - especially during the Xmas sales so he gets maximum "power" from them. If he'd rather have money to spend somewhere else, take a little hit and advertise them on FS/FT section. Someone will pay for them as they might want vouchers to make a large purchase.

Worth considering perhaps?

donaldduck2

They have been opening new stores recently which is not the usual actions … They have been opening new stores recently which is not the usual actions of a business in financial difficulty.



Jessops had just opened a brand new store here about a month before they went bust and Game had just refurbed their local store shortly before they went bust the last time.

I will be surprised if they manage to avoid going bust again as little seems to have changed since the last time as they combine generally high prices with poor service.

John

They have too many staff in each shop. They had 6 in the shop plus the manager rummaging around too. 6 staff and they turn over next to nothing on a week day. Crazy. That was in early November too.

Just poor management.

If he wants cash for them have a look at the games on sale and compare them to the cash trade in prices at CEX if you have one nearby.

I popped into the store inside the arena park tesco, coventry. Had EPIC SALE posters everywhere, but only one wall had sale items on!! Also, they had mario 3d world for £49.99!! The Instore prices are ridiculous.

Having said all that, there was a decent sized queue at the tills and loads of people inside the shop so that must be a good thing surely.

Probably won't be able to use the vouchers unless he purchases a bundle thrice the amount of the value of his vouchers. But by purchasing a bundle deal, he'd be saving himself £3.

My local was packed yesterday with a big queue for the till.

To be honest I thought they were going to do a "Special Reserve" trick with all the pre-orders.

Special Reserve was mainly a mail order company for games/software although did have a store in Essex somewhere.

When the FIRST Playstation came out they were quite happy to take orders then announced they had gone bust and sadly to get your cash back you had to join the long list, obviously the big suppliers were at the front, meaning you were left with faff all. Lucky I never pre-ordered from them but took it as a major lesson in either waiting till shops have it in stock to walk in and buy or paying the minimum deposit available to secure the item.

Ah them were the days.

sancho1983

I agree, "here's some 'money' you can spend in a couple of places, oh and … I agree, "here's some 'money' you can spend in a couple of places, oh and if you don't spend it by a certain time you'll lose it" Rather than these pesky £20 notes I use...


Or maybe it works out better if you're planning on trading in games using their "beat competitor's offer by £1" policy and saving up the vouchers?

I'm pretty worried about this, hope it's not true, got quite a lot of vouchers saved up myself for when I eventually get a PS4

Glad I redeemed by reward card points now...had a few on there n thought why not buy a few Xmas presents using them :-)

splatsplatsplat

im not banging on at you op but cannot undetstand peoples love of … im not banging on at you op but cannot undetstand peoples love of vouchers. Its like cash just wasnt good enough.


i feel the same but there are still some folks (generally older) that feel vouchers are somehow cheap and gaudy.
i have only just managed to hint towards vouchers for amazon rather than a limited bricks and mortar store

Graham1979

To be honest I thought they were going to do a "Special Reserve" trick … To be honest I thought they were going to do a "Special Reserve" trick with all the pre-orders.Special Reserve was mainly a mail order company for games/software although did have a store in Essex somewhere.When the FIRST Playstation came out they were quite happy to take orders then announced they had gone bust and sadly to get your cash back you had to join the long list, obviously the big suppliers were at the front, meaning you were left with faff all. Lucky I never pre-ordered from them but took it as a major lesson in either waiting till shops have it in stock to walk in and buy or paying the minimum deposit available to secure the item.Ah them were the days.



Haven't heard of Special Reserve for yearrrs. I did wonder what had happened to them - always kind-of assumed I'd one day pick up a copy of Nintendo Zone or PC Gamer and find them still advertising in it, unchanged from the 90s. Not to be, I suppose.

mclovin9091

Floating on the stock exchange in order to bring in some much needed … Floating on the stock exchange in order to bring in some much needed investment, I wonder who will be daft enough to fall for that and actually buy shares in them. :((no doubt i will get some stick) The last company that took a chance on and i bought shares for when they floated (and have bought more since) was Rangers FC. Only because the value of the assets and potential rise in revenue over the next 5 years warranted it, just waiting until they get back to Eurpoean football. However i cannot see where Game is going to make any additional revenue, their circumstances have not changed, they have no new revenue streams and they are obviously not doing well as it is. Personally i will be staying well away if they do float, although i'm not sure they will be allowed to as they stand currently.



Who owns the assets?

last i read they were doing well and when HMV looked on the brink they were considering buying some of there stores

cant have swung back into the red again can they?

I walked past a few game stores they other day and both had queues around the store. Can't be doing too bad. It's normally summer that is hard for these places.

gmdlogan

They have too many staff in each shop. They had 6 in the shop plus the … They have too many staff in each shop. They had 6 in the shop plus the manager rummaging around too. 6 staff and they turn over next to nothing on a week day. Crazy. That was in early November too. Just poor management.



They also used to have too many shops.
In Hemel Hempstead they had 1 Game inside the shopping center, one game outside the shopping center (Within a 30 second walk) and then a Gamestation two or three shops down. All with 4-6 members of staff.

I visited 2 stores today and they were packed. Not sure what they were buying as I could not find anything except both parts of Dragon Age for the PC for £3 which I decided I did not need as I have too many unplayed games. There was one chap about to pay £530 for a PS4 bundle. Like most shops the rent will be due shortly after Christmas so if they can cope with that then they should be okay for a good while longer.
I went into CEX and their shelves were virtually empty which was a bit worrying.

When i worked in GAME in the 90's there was a Electronic Boutique across the road, Game station just opened and 2 mins walk away and 3-4 Indie stores in town and about 5 or 6 on the outskirts of town, Button Bashers on derby street and Bolton Game Centre are just two that spring to mind.

Gaming was no where near as popular as it is today and customers paid about £49.99 for a SNES cart, we only sold games ( new games) and magazines as well as trading card games, PC games were a big seller back then too half the store was dedicated to PC, PS1 become the next biggest seller.

Actually i remember we sold hardware too, sound cards, graphics cards, speakers, joysticks and pads.

Yet all of these stores in close proximity managed to survive! and in fact thrive! with practically no used market, customers with no cash waited for the REAL sales and bought then,

and lets not forget how rampant piracy was on the PS1 and PC back then.

it was with the launch of the 360 and PS3 that the stores demise really started. somewhere the industry went a wrong turn.
Edited by: "haritori" 30th Dec 2014

One of the members works for Game and I asked him this question and here is his response.

As a company GAME are doing very well and are in absolutely no danger of going into administration again anytime soon. The huge xmas we have just had and the new console launches helped with that. Use your voucher with confidence. Also i think we have more PS4 stock coming into all stores from January 3rd. Happy new year
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