Game Officially Out of Game
U.K. game retailer Game (yes, it's an obvious name, but if you haven't been inundated with GameStops, you get used to it) has entered administration (bankruptcy, in American-speak). Last week, the company's shares stopped trading, and that was after Game stopped carrying certain titles due to its cash flow and credit problems. Game will close nearly half of its stores (many felt its stores were overly close together, anyway). The company has also stopped honoring gift cards and its rewards program, nor will Game offer refunds or exchanges. It's unlikely the retailer will disappear, but will probably be recapitalized by investors, or acquired by another entity at a deep discount to what the company would have sold, pre-administration.