UK Retailer GAME to Close 277 Stores, More than 2,000 Laid Off - NewsWilliam D'Angelo, posted on 26 March 2012 / 4,318 Views
According to a report by BBC, UK retailer GAME is closing 277 stores in the UK and Ireland. More than 2,000 (40%) of its almost 5,000 employees are being laid off. In Northern Ireland only five of its 18 stores will remain open, with about 110 of its 271 employees in Northern Ireland and the Irish Republic losing their jobs.
"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," said one of the administrators, Mike Jervis. "As a result, we are hopeful that a going concern sale of the business is achievable."
Administrators will be helping out the employees that are being laid off to assist in their claims for redundancy and other compensatory payments. "Our priority is to continue trading the business as normal while we continue to pursue a sale," Mr Jervis added. "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."