[Guns_LotsOfGuns]

Story seems to be breaking that GAME are having issues with publishers

UPDATE: UK Retailer Game: 'Publishers To Withhold New Games' - Source - NowGamer

UK high street retailer Game has "lost credit assurance with most of its publishers," meaning it won't be given stock of upcoming game releases, a source has told NowGamer.

Game struggled over the traditionally profitable festive period last year, with year-on-year sales down 17.6 per cent in the UK and Ireland for the eight weeks ending 7 January.

Our source said Game has "lost credit assurance with most of its publishers," and "won't have stock of the upcoming releases."

The source added that there is also speculation within the company that staff's wages will be withheld in an attempt to boost the retailer's year end figures in March, with a press release set to outline the company's stance.

They then updated the story

[UPDATE]
We spoke to Simon Soffe, Communications Director for Game Group, who confirmed that all staff pay is up to date as of yesterday. He added that this week's new releases, such as Final Fantasy XIII-2, Metal Gear Solid HD Collection and Soul Calibur 5 are currently moving through Game's distribution centres for launch on Friday.

Game is talking to publishing partners - including Sony - regarding future launches, for which the retailer has big plans, Soffe added.

He also clarified that credit insurance is an option for publishers, and that the industry "has been supportive" during the last few weeks.

MCV have another update

New releases WILL be at GAME this Friday | Games industry news | MCV

Rumours that this week’s big releases will not be available in GAME are untrue, MCV can confirm.

Metal Gear Solid: HD Collection, Final Fantasy XIII-2 and Soul Calibur V are currently being processed by the retailer, despite claims circulating in the consumer press.

However, MCV can also confirm that GAME is facing challenges regarding its credit insurance and that its financial landscape has changed significantly since the beginning of the year.

It is now having to work individually with publishers to find answers to the financing problems, though internally the retailer has been reassured by how supportive the games industry has been thus far. It is currently engaged in talks regarding future releases.

Rumours that staff wages have not been paid are also untrue.

GAME also insists that the problems that lead to the non-appearance of Resident Evil: Revelations last week were not linked to credit and were instead the fault of “website errors”.

However, that’s not to say that GAME is not facing stern challenges. The chain admitted last month that it will struggle to meet EBITDA covenants requirements by February 27th.

And speaking anonymously to MCV, one publisher executive stated: “No credit from the agencies means no stock for the stores. It’s going to get worse before it gets better. You won’t find a new release this Friday.”

Clearly the stock claim is untrue, but it does betray the potential seriousness of the situation behind closed doors.

Guess that trade in business isn't as good as it seems!?

I dislike GAME as much as the next person but since they are the last Gaming retailer on the high street i woiuldnt like to see them disappear.

Interestingly I have had a problem finding new releases in GAME recently, both Saints Row and Skyrim have been unavailable new in my local stores for several weeks.

[Guns_LotsOfGuns]

Eurogamer weighing in

GAME in trouble as doubt cast on ability to stock new games • News • Eurogamer.net

This means that publishers are now forced to take the risk on games that do not sell - something they do not wish to do.
GAME is now being asked to pay for new stock with cash. If GAME doesn't have the cash, it could result in the shop being unable to stock new games.

Eurogamer readers have reported that GAME is not selling Metal Gear Solid HD on its website, and that the shop has been turning away Mass Effect 3 pre-orders.
Metal Gear Solid HD Collection is currently not listed on GAME's website.

Doesn't sound good at all!

[Cerberus30000]

my heart bleeds for them lol shame they had to drag gamestation down with them

[Bamford38]

It would be a shame if GAME shuts down. Until recently i always liked shopping there (online, not in the stores) they generally had very reasonably priced pre owned games and the weekly deals they had were usually quite good.

But since xmas the website is ridiculous. They have almost no stock of anything. They even have a sale on at the minute with pre owned games for a fiver, but if you look through the offers hardly any of them are in stock, especially the PS3 games where only 2 out of the 16 games on offer are actually in stock.

I was one of the many people who wanted to pre order MGS HD and i couldnt believe it when they didnt even list it on their website, considering they are the only specialized game shop left.

[Rorifett]

It's just part of the boom bust cycle of the capitalist regime

[Lurking Lawyer]

Originally Posted by Guns_LotsOfGuns

I dislike GAME as much as the next person but since they are the last Gaming retailer on the high street i woiuldnt like to see them disappear.

I think that's the nub of it, isn't it? Other than taking advantage of trading a couple of the offer to trade GoW3 plus £5 for Batman, and then Batman plus £5 for Skyrim, I haven't bought anything from Game in years. They're just not competitive compared as a rule. Still, it's better than having no games store on the high street....

I suppose we have to either support them and buy stuff or accept that they (and HMV) are going to disappear, sooner or later.

[brumhee]

Originally Posted by Rorifett

It's just part of the boom bust cycle of the capitalist regime

You grasp on economics astounds me

There's more to this than boom and bust and it doesn't just affect Game.

With companies tied in to high rent rates, which they aren't always able to renegotiate until the find themselves on the brink of bankrupcty, changing consumer patterns, people being told they have no money, online and supermarket competition underselling, these shops will find it hard to trade. I think we may see ourselves going back to an indy games shop in each town and city with no big chains.

I well expect Game/HMV and other similar stores to collapse by the end of this year.

[Guns_LotsOfGuns]

A new challenger appears!

New and Used Xbox 360 Games, PS3 Games & Wii Games | Grainger Games

In our shopping centre Grainger Games and GAME are across from each other and GAME have a white board outside saying they will match GG and you get GAME points reeks of desperation!

I didn't realise GG were such a big chain TBH 68 stores nationwide fairplay!, not so bothered about losing GAME as a high street retailer now lol.

[Lurking Lawyer]

Originally Posted by Guns_LotsOfGuns

I didn't realise GG were such a big chain TBH 68 stores nationwide

Nor me! I'd seen the name a few times in the Bargains section but thought they were a small indie chain.

Still, not a lot of use to me, though - the nearest is 20-ish miles away. Any saving on buying there is offset by the petrol burned getting there and back

I wonder if GAME's woes will take Gamestation down with it? I know they're owned by the same holding company but I don't know whether it trades separately - and hence has its own credit terms.

I could live with that - my local town has a Gamestation and I do actually shop in there from time to time, albeit usually to trade stuff in rather than buy new.

[Guns_LotsOfGuns]

Originally Posted by Lurking Lawyer

I wonder if GAME's woes will take Gamestation down with it? I know they're owned by the same holding company but I don't know whether it trades separately - and hence has its own credit terms.

I wouldn't be surprised, its probably half the problem. They are essentially operating 3 stores here in Notts all minutes from each other, that's three lots of rent; staff etc, surely it would make sense to re brand under one name and down size to one decent sized store per city rather than 3 small ones?

Plus when I go in Gamestation its a carbon copy of GAME now anyway with the same offers and stock issues.

[Bamford38]

Grainger Games is actually really good. I went in one near me recently and picked up probably about 10 games and didnt pay more than £6 for any of them.

Also the staff were great and we had a good old chat about some games that are coming out soon. Which is a lot more than you can say for the staff of GAME, they either dont have a clue what games are out or are coming out, or they simply dont care.
I wouldnt be surprised if most of them didnt even like games!

[majnu]

Originally Posted by Bamford38

Grainger Games is actually really good. I went in one near me recently and picked up probably about 10 games and didnt pay more than £6 for any of them.

Also the staff were great and we had a good old chat about some games that are coming out soon. Which is a lot more than you can say for the staff of GAME, they either dont have a clue what games are out or are coming out, or they simply dont care.
I wouldnt be surprised if most of them didnt even like games!

I wish GAME did that. All that consumer psychology, brand association malarky all works. How many people now shop at Iceland because of Stacy Soloman

Get some hot girl gamers working at GAME and people will be queuing up.

[Bamford38]

Originally Posted by majnu

Get some hot girl gamers working at GAME and people will be queuing up.

Do these exist??

I thought they were only an urban myth

[King Tones]

Originally Posted by Guns_LotsOfGuns

I wouldn't be surprised, its probably half the problem. They are essentially operating 3 stores here in Notts all minutes from each other, that's three lots of rent; staff etc, surely it would make sense to re brand under one name and down size to one decent sized store per city rather than 3 small ones?

Plus when I go in Gamestation its a carbon copy of GAME now anyway with the same offers and stock issues.

Its the same in any town or city really.
Swindon has 3 Games and a Gamestation all within 3 minutes of each other.

Why we need 4 of the same stores I have no idea, only use them if its a good trade in deal like the new release for a Fiver thing or when they do good deals on a new game like Skyrim for £20 a few weeks after release.

[Rorifett]

Originally Posted by brumhee

You grasp on economics astounds me

There's more to this than boom and bust and it doesn't just affect Game.

Really, please, enlighten us with some words of wisdom...

Originally Posted by brumhee

With companies tied in to high rent rates

BOOM

Originally Posted by brumhee

which they aren't always able to renegotiate until the find themselves on the brink of bankrupcty

BUST

Originally Posted by brumhee

changing consumer patterns

BOOM

Originally Posted by brumhee

people being told they have no money

BUST

Originally Posted by brumhee

I think we may see ourselves going back to an indy games shop in each town and city with no big chains.

BOOM

Originally Posted by brumhee

I well expect Game/HMV and other similar stores to collapse by the end of this year.

BUST

*EDIT*

Sorry Guns, the 'irk' button was firmly pushed

[Guns_LotsOfGuns]

Originally Posted by brumhee

You grasp on economics astounds me

Originally Posted by Rorifett

Really, please, enlighten us with some words of wisdom...

[MOD COMMENT]

No need to get so worked up about it fellas economics isn't that interesting, lets keep it civil please!

[\MOD COMMENT]

[DJSigma]

It's a shame to see people losing their jobs (potentially at least), but I've never really rated GAME. Most of the experiences I've had with them were frustrating ones, usually involving trying to convince their staff that a particular "nationwide" deal is supposed to apply to the store they're working in, lol. I was also a bit annoyed when they got exclusive rights on something I'd pre-ordered elsewhere at a lower price (before the other shop found out that GAME had snapped up the rights). I don't find them that competitive on price, so I rarely have any reason to use them.

I didn't have much luck with Grainger Games when I tried them either. I ordered Homefront and they didn't send it. It took them a while to respond to my emails too, although once they did it was sorted out quickly. Mind you, the way Homefront turned out I think they probably did me a favour.

[majnu]

The only reason I'd shop at game is:

1. Trade in a game.
2. Demo a product.


Otherwise internet shopping is more convenient and cheaper.

I think that there are 3 GAME stores in the Trafford Centre. The main one was busy when I went a few weeks ago, the other ones are just a waste and not needed.

[VivaFathom]

Theres a grainger Games in derby literally two or three stores down from Game, i could probably fit them both into the same photograph. Then theres CEX, HMV and Gamestation all within 2 minutes walk.

One of them needs to fold so the others can survive.

[Beximus]

Better spend my christmas Game vouchers soon then.

We've got a Gamestation as well, which I like. I still use Game a fair bit actually. so it would be a shame to see them go under, especially if they just give a year or so of shoddy service and disappear.

[jason g]

Originally Posted by majnu

Get some hot girl gamers working at GAME and people will be queuing up.

Originally Posted by Bamford38

Do these exist??

I thought they were only an urban myth

[Bamford38]

Originally Posted by jason g

image

I think ive just found a new screensaver

[mattclarkie]

That explains the £14 of cashback I have on Top Cashback that was meant to be paid in November but is still confirmed

[DJSigma]

From EA via Eurogamer: -

EA boss John Riccitiello has voiced concerns about the financial health of a "major European retail partner".

Speaking during an investor call earlier today, Riccitiello didn't name the company in question, but explained that the situation could affect the publisher's next set of financials.

"We are concerned with the financial condition of one of our major European retail partners, which could lead to both increased bad debt and lost sales," he said.

Chief financial officer Eric Brown also chimed in later during the call.

"We are focused on some isolated European retailer issues that have recently been announced. A negative outcome could adversely affect our Q4 results."

EA concerned at financial health of "major European retail partner" • News • Eurogamer.net

And another one: -

Embattled retailer GAME has confirmed it is in talks with its lenders over its current credit troubles.

Its lending syndicate is reviewing the company. In a statement GAME hinted it may sell its overseas operation.

http://www.eurogamer.net/articles/20...rseas-sell-off

[majnu]

Doesn't look good for Game at all. It's hard times for everyone, I can't see why Game in particular are going under when it should apply to Grainger, Bee, Gamestation and every high street gaming outlet.

[BenchyUK]

GAME has such a hold on the UK Market that you can tell that in an attempt to not go under, they will indeed sell off they're overseas stores. I would feel very sorry for the people who loose their jobs, but i wouldn't be upset if GAME goes under here.

My local store hasn't had any new titles in Ages. Never even got the Sly Copper HD collection on PS3. Poor excuse of a company

[TheFantabulator]

Originally Posted by majnu

Doesn't look good for Game at all. It's hard times for everyone, I can't see why Game in particular are going under when it should apply to Grainger, Bee, Gamestation and every high street gaming outlet.

We don't know what Game's balance sheet looks like. They could be living on an overdraft. If their sales are down, then investors may be demanding a "restructure" i.e. closing/selling unprofitable stores. They seem to have spread themselves very thinly by having multiple stores in the same town. The per week rents on some units will be astronomical - think of what one store would need to sell just to break even.

[Lurking Lawyer]

Originally Posted by TheFantabulator

1. We don't know what Game's balance sheet looks like. They could be living on an overdraft.

2. They seem to have spread themselves very thinly by having multiple stores in the same town. The per week rents on some units will be astronomical - think of what one store would need to sell just to break even.

1. I think that's a fair assumption, given the comments quoted above about discussions with their bankers. A usual indication that they're either in breach of their banking covenants, or are heading towards breach.

2. Quite so. Someone pointed it out above - and I assume at least part of it must stem from the merger and acquisitions of other shops, whose leases they can't get out of. It's madness though - in the shopping centre near where I work, there are two GAME outlets, one directly above the other on different floors Plus they have a Gamestation a few minutes walk down the road, outside the centre.

It's not tenable in the long term - but I assume that they must have worked out that it would cost them more to try to get out of the leases early.

[Simon Coates]

The plot thickens:

GAME hints at possible international sell-off

[pixelpixel]

Originally Posted by Guns_LotsOfGuns

A new challenger appears!

New and Used Xbox 360 Games, PS3 Games & Wii Games | Grainger Games

In our shopping centre Grainger Games and GAME are across from each other and GAME have a white board outside saying they will match GG and you get GAME points reeks of desperation!

I didn't realise GG were such a big chain TBH 68 stores nationwide fairplay!, not so bothered about losing GAME as a high street retailer now lol.

Did yo ever see this: How an Unknown Games Retailer Committed Suicide at a Gaming Awards Event | Gizmodo UK

If Game do go then thats the last store that I can pick up a game with. My local Tesco and Asda have a very small collection. Last week Game Stop closed also.

I have noticed how empty my local game store looks