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Video game store goes into administration
6:10pm Monday 26th March 2012 in News
THE video game group which owns Game and Gamestation has today gone into administration, with 277 stores closed down with immediate effect.
Mike Jervis and Stuart Maddison of PwC have been appointed joint administrators and are currently liaising with a number of parties who have expressed an interest in purchasing part of the business.
But as of today, 277 of its 609 stores in the UK and Ireland have been closed, resulting in 2,089 job losses, although it is not yet known which stores have shut.
The company has stores in Dudley, Merry Hill, Stourbridge and Halesowen.
Mike Jervis, joint administrator and partner at PwC said: “Our priority is to continue trading the business as normal while we continue to pursue a sale. The recent job losses are regrettable but will place the company in a stronger position while we explore opportunities to conclude a sale. My team and I will be doing all we can to help the affected employees at this difficult time.”
The remaining stores will stay open as normal while the administrators continue their efforts to find a purchaser for the business.