GAME (over?)

[dk]

Sounds like the guys who bought comet last year are looking to buy them, integrate the two brands and stores.

 

[richy22]

OpCapita?

 

[Waitey]

Game I love you.

Shares dropped to just over 1p at 9am. I punted £500 on them. They sold on my trigger at 11.19am for 1.50p. Tidy £236 profit.

They've dipped to 1.36 now but I think they'll spike again before Friday.

 

[Ronnie R]

Game I love you.

Shares dropped to just over 1p at 9am. I punted £500 on them. They sold on my trigger at 11.19am for 1.50p. Tidy £236 profit.

They've dipped to 1.36 now but I think they'll spike again before Friday.

Nice!

 

[Waitey]

Shares stop trading for the day at 1.80p now.

I rebought at 1.25p. My 39000 (£499 worth) shares are worth £702 at the min. Trigger set for 1.90p to sell. There will be a drop in value in the morning though...

 

[richy22]

Bet you wished you had of waited till now to sell them???! 3.5 now

 

[Waitey]

Re bought at close of play last night at 2.01p. Sold first thing @ 3.9p.

Re bought again @ 3.5 but that seems to have been a mistake....

 

[richy22]

Why sell them then re-buy??

 

[Waitey]

I always set targets so I don't get greedy!

Making a constant little profit is nice.

I hope these finish at 5p by Friday.

 

[Ronnie R]

Where are you buying these shares from? I'm new to share buying lol

 

[Waitey]

Natwest share trader account.

Google it.

 

[richy22]

Costs £15 everytime you do that iirc??

 

[Waitey]

Yeah all trades cost between £10-15. Plus stamp duty and any other fees.

Hense you really need to be dealing with decent amounts - £500+

I have a float of £500 which is generally sat in shares. Game have made me about £470 since yesterday morning.

I just lost about £150 in a dip this morning though!

 

[dk]

f**king obvious if you ask me, which they didn't, otherwise we could have sorted this mess months ago.

GameStation could be dropped in order to save GAME, it has been revealed.
Closing the chain of stores is one of The GAME Group's preferred options to save the company, according to MCV.

GAME will enter voluntary administration before the weekend, which will be resurrected as a brand new company in its wake on Monday.

The move will remove the group from the stock exchange. It will also only include GAME's UK and Spanish stores, while other regions will be left on their own.

Aside from a handful of well performing stores, GameStation will effectively cease to exist, removing duplicate stores owned by the group to save funds.

"If everyone commits it's great news. A GAME with 300+ stores is what we'll all get, which is basically where they should have been three years ago during the peak," said the source.
"There's no need for two, or even three, stores in the same town or city. They get a chance to reduce debt, keep trading and work out a plan for a new owner without so many financial and lease millstones around their necks."

Other options include refinancing the entire company - although this has been reported to be ruled out - the arrival of a 'White Knight' investor, or administration and closure come next week.

GAME is currently holding crunch talks with suppliers in order to raise store rent for this weekend.

The group recently put itself up for sale after it was just weeks away from administration.

 

[Gouldy]

It's taken them that long to figure that out ?

Oh dear

 

[Lee]

http://www.gamesindustry.biz/articles/2012-03-21-game-suspended-from-stock-exchange

 

[Jonnio]

Made sure I went in and used a gift card and reward points at the end of last week. 3 x games + 360 charger for £5.

 

[sargey]

In administration now..

http://www.mcvuk.com/news/read/game-files-for-administration/093137

 

[neil80]

In administration now..

http://www.mcvuk.com/news/read/game-files-for-administration/093137

Read it correctly! - Filed for administration NOT in administration!

Get your facts right boyo

 

[spirez]

I had £92 store credit with game station so cashed it in today for a shiny new ps3. The woman said she couldn't guarantee they'd be open that long and recommended I use the credit ASAP. Luckily I was after a ps3 anyway so timing was great. Plus my 360 may have just RROD'd

 

[Cookie]

Nooo now there's going to be no game shops at all in my town

 

[BRUN]

go the supermarket or shop online, its cheaper

 

[iain187]

Now I really better go spend my points on something lol

 

[richy22]

Yeah.

http://www.bbc.co.uk/news/business-17512143

 

[Silent_Scone]

Yep thought as much, GG RBS

 

[Lee]

http://www.game.co.uk/

http://www.gamesindustry.biz/articles/2012-03-26-game-stores-begin-closing-websites-go-offline

 

[Christopher]

STILL UPDATING: Here's a list of the stores we believe have closed their doors as of 15:00GMT:

GAME

Croydon
Bristol Cabot Circus
Bath Southgate
Milton Keynes Midsummer Place
Coventry West Orchards
Norwich
Bromley
Exeter
Plymouth New George Street
Bournemouth Commercial Road
Birmingham Palisades
York City Centre
Liverpool
Telford - both stores
Manchester Arndale - both stores
Burton-on-Trent
Birmingham Fort
Canterbury
Falkirk
Stevenage
Blackburn
Glasgow Buchanan Galeries
Reading Oracle
Basingstoke
Barrow
Bridlington
Weston Super Mare
Stockton on Tees Wellington Square
Newcastle
Edinburgh Ocean Terminal
Edinburgh Princes Street
Stirling
Portsmouth Cascades
Cardiff Queen Street
Dorchester
Gloucester
Preston Fishergate
Slough
Glasgow Sauchiehall Street
Isle of Wight
Northampton
Galway
London Victoria
Dublin Dundrum
Sheffield
Lincoln Valentine Retail Park
Essex Lakeside - both stores
Barking
Nottingham Listergate
Edingburgh Cameron Toll
Edinburgh Fort Kinaird
Leeds Albion Street
Monoghan
Gretna
Crawley - both stores
Hemel Hemstead - both stores
Belfast
Newcastle - both stores

GAMESTATION

Birmingham New Street
Sutton
Enfield
Bromley
Llaneli
Sunderland
Norwich
Great Yarmouth
Taunton
Ilford
Cumbernauld
Coventry
Hyde
Bournemouth
Brighton
Liverpool
Shrewsbury
Stafford
Leicester
Skelmersdale
Perth
Halesowen
Walsall
Gainsborough
Harlow
Dumbarton
Cannock
Kettering
Stockton on Tees High Street
Salisbury
Hartlepool
Stevenage
Nuneaton
Cheltenham
High Wycombe
Glasgow Sauchiehall Street
Hastings
Long Eaton
Leamington Spa
Norwich
London East Ham
Lincoln
Rhyl
Mansfield
Hereford
Banbury
Middlesborough
Leeds
Basildon
Congleton
Fife Glenrothes
Preston

:dapprove:

 

[Philip.]

Christ

Have friends that still work in Gamestation, their store is lucky and has stayed open though. Crazy!

 

[C.J]

Damn it. I've got a £30 gift card to spend.

 

[Bodge!]

Game West Quay Soton apparently closed up too.

 

[ukaskew]

Most things I can understand as they are fairly standard for stores in administration (gift vouchers no longer valid, no refunds, loyalty card credit voided etc) but not giving people back their pre-order deposits is harsh and will surely do the company far more harm than good if they ever come out of this under new management.

 

[dk]

Damn it. I've got a £30 gift card to spend.

Tbf, it's your own fault, it's not like we've not had a LOT of warning on this one....

 

[mace¬]

Most things I can understand as they are fairly standard for stores in administration (gift vouchers no longer valid, no refunds, loyalty card credit voided etc) but not giving people back their pre-order deposits is harsh and will surely do the company far more harm than good if they ever come out of this under new management.

Possibly will reverse if they do get taken over. Good PR exercise to get people back in the store?

 

[ukaskew]

The Administrators seem on the ball...

"Unfortunately, there was a lot of proximity between GAME and Gamestation stores, so one store was cannibalising the sales at the other store."

I'm assuming he has a Masters in Retail Management, with deep insight like that

 

[Snakey]

Yesterday my local Game was offering something like upto 50% extra on trade ins

Now I see why

 

[sofaboy]

They closed the upstairs Trafford centre one but left downstairs open, fair play to um for trying to keep it going.

 

[VeinAST]

It didn't fair too well in the end. GAME in Trowbridge used to be quite expensive in comparison to Gamestation, they then closed GAME due to poor sales and upped the prices in Gamestation. Good going!

 

[kpowell911]

Whilst its clear I do not have a degree in economics, why do companies do this?

Why do they have 2 sets of shops, both owned by the same company in competition?

Theres a PC World with a Currys next door by me, why do they think this is a good idea, when they are both owned by the same company :S

Is it because if a customer has a bad experience with Say Game, they go to Game station? I dont get it?

Also, why did they have so bloody many stores. Theres 2 Games and a Gamestation in the Merry Hill Centre. Why do they need that many in 1 shopping centre?

Surely the people who make these decisions are highly educated? So why do they not have any common sense?

 

[MarkCup]

Didn't Game acquire Gamestation as a going concern?

If so, they acquired a shitload of leasehold liabilities that in the current economic climate would have been doubly hard to sell on. With that being the case they focussed on brand differentiation and tried to make the surplus outlets work...which was never ever going to happen.

 

[Philip.]

When I worked in Gamestation (about twenty yards away from Game) we were always busier than Game, always!