GAME Australia closing down all stores

GAME Australia are closing all stores, PriceWaterhouseCoopers announced today. As noted by Gamespot AU, the company will be closing 16 stores 'immediately' - with the remaining 15 stores to close over the coming weeks. This is in spite of attempts to keep the stores afloat over the past month, since GAME Australia entered administration. Kate Warwick of PwC said in a statement:

In the interests of creditors, the 31 remaining Game stores are to be closed over the coming weeks and a final closing down sale has commenced with discounts of up to 60 percent available in-store and online. This is a difficult time for employees and closing the stores was not a decision we made easily. Despite exploring available opportunities for continued trading, the ongoing trading performance and absence of viable offers for the purchase of the business has resulted in these closures.

Another meeting of creditors is set for today, where it seems likely GAME Australia will enter liquidation - in which an attempt will be made to pay the employees, administrators and creditors through the dissolution of assets. Our best wishes go out to all affected by this situation.