GAME's UK Rescue Leaves Australian Arm in Hot Water

So GAME is in the clear in the UK. But not, it seems, in Australia, as reports are flying around that the local managing director, Paul Yardley, is trying to find a buyer.

PricewaterhouseCoopers, GAME's administrator in the UK, is not handling the process down under, and OpCapita's rescue of the specialist retailer does not include the Australian side of the business. Essentially, they're left to fend for themselves - but potential buyers are thin on the ground.

Woolworths announced that it intends to duck out of the video games retail sector too, which puts the Australian brick and mortar industry on some rocky ground. “Australian sales for the fiscal year ended down 4%,” Yardley told the Australian Financial Review.

“But GFK numbers for the video games market showed it was down by mid-teens for the year. So while going backwards is something a business never aspires to do in revenue, in the context, gaining market share is a strong result. We are in close contact with the administrators in the UK… but ultimately it’s for the local management team to select that partner and financier.”

We wish the Australian side of GAME the very best of luck.

Source: Smart Company