Almost half of insolvent Game Group’s 609-strong store portfolio has been closed with immediate effect.
Administrator PwC, which was appointed to the games retailer this morning, said it has had to close 277 shops in the UK and Ireland as of today.
The remaining stores will remain open while a buyer is sought for the business. Bids are expected to come from Royal Bank of Scotland, Gamerstop and OpCapita.
The appointment of PwC comes five days after the group filed a notice of intention to appoint an administrator, and suspended trading of its shares on the London Stock Exchange. The move meant Game could postpone paying its quarterly rent bill, which could leave landlords facing a £21m shortfall.
joanna.bourke@estatesgazette.com
