By Catherine Phillips 27/03 Updated: 27/03 12:53
THE REDDITCH branches of Game and Gamestation will continue to trade as administrators try to find a buyer for the business.
Staff at Game on Evesham Walk and Gamestation on New Walk, both in The Kingfisher Centre, have so far managed to escape immediate closure which has already claimed 2,089 jobs across the UK and Ireland following the closure of 277 stores.
Fifteen people are employed across the two Redditch stores.
Mike Jervis and Stuart Maddison of PwC were appointed joint administrators of Game Group plc on Monday (March 26) and are liaising with a number of parties who have expressed an interest in purchasing part or all of the business and assets of the group.
Mr Jervis, joint administrator and partner at PwC said: “The group has faced serious cashflow and profit issues over the recent past.
"It also has suffered from high fixed costs, an ambitious international roll-out and fluctuating working capital requirements.
“Despite these challenges, we believe that there is room for a specialist game retailer in the territories in which it operates, including its biggest one, the UK. As a result we are hopeful that a going concern sale of the business is achievable.”
There are 333 stores employing 2,829 people which will stay open as normal while the administrators continue their efforts to find a purchaser for the business.
The group, with a turnover of £1,625m in the year to January 31, is a retailer of video games and video games hardware trading under the names of Game and Gamestation.
LABOUR leader Ed Miliband has called on the
KINKY couples and individuals have been meeting up
LIBRARY opening times are being cut and at
A WOMAN was pushed to the ground and
FREE parking on Sundays should be introduced for a six-month ...
A MAJOR new gateway development in Stratford has moved a ...
TWO men have been arrested following a police pursuit through ...