Happenstance Posted March 31, 2012 Posted March 31, 2012 It's just popped up on the BBC's breaking news twitter so looks like it could be going through
Grazza Posted March 31, 2012 Posted March 31, 2012 The farewell song :- That's bloomin' brilliant. Good singing voice, musical talent and some very funny/sad lyrics. Coincidentally, that very branch of GAME was my favourite in the whole world. I saw that bloke just last week and I'm actually gutted they closed his shop. The staff there were very cool - how I'll miss StreetPasses from Ozric and Rae.
canand Posted March 31, 2012 Posted March 31, 2012 It's just popped up on the BBC's breaking news twitter so looks like it could be going through Cool this is great I am happy now
flameboy Posted March 31, 2012 Author Posted March 31, 2012 Cool this is great I am happy now I guess its good for you as all your reward points and trade in plans are no long worthless so you know I am happy too
canand Posted March 31, 2012 Posted March 31, 2012 I guess its good for you as all your reward points and trade in plans are no long worthless so you know I am happy too And street passing Wow sky news is slow with this news
McPhee Posted April 1, 2012 Posted April 1, 2012 The (now former) staff at my local Gamestation left an interesting note in the window. They claim they were the highest taking store on the region (either GAME or Gamestation) and were incredibly disappointed that the management and the administrators chose to dispose of the stores with the shortest leases rather than preserving the good stores and closing the under performing ones. Interesting if true.
Aimless Posted April 1, 2012 Posted April 1, 2012 That meshes with what I've read from former store managers. Apparently GameStations tended to be on shorter leases — a holdover from when they were a separate business, presumably — making them a more desirable choice for the chopping block. My local GS has closed, but GAME is still open. It's a shame as the staff in the former were nice enough and tended to avoid going through the upsell rigmarole, so I'd rather their store had stuck around, faux 'alternative' branding and all. It'll be interesting to see whether the OpCapita deal brings real change along with it or if they're just going to limp along with the current business model for as long as possible.
Rummy Posted April 1, 2012 Posted April 1, 2012 Hmmm I'm getting very dubious about how soon these deals are gonna be wrapped up especially after the report the other day saying RBS were going to complete the purchase within a day. I do feel MCV has fuelled a lot of this without substance and everyone else is simply quoting or rewriting what they report. It mighta been a mixup as RBS is the lender, misinformations etc. On the Gamestation front, it is quite a shame, I always find them a bit nicer than Game(though...darker?). Dunno whether the one I got my PS3 from survived, will have to pop by at some point. I'm not gonna lie either, I'm dissappointed GAME get to keep trading, but hopefully OpCapita will turn them around into something a little less shit than they were.
Jimbob Posted April 1, 2012 Posted April 1, 2012 It mighta been a mixup as RBS is the lender, misinformations etc. On the Gamestation front, it is quite a shame, I always find them a bit nicer than Game(though...darker?). Dunno whether the one I got my PS3 from survived, will have to pop by at some point. I'm not gonna lie either, I'm dissappointed GAME get to keep trading, but hopefully OpCapita will turn them around into something a little less shit than they were. I'm not going to lie either, they own Comet and they are pretty shit as it is. So what will they do to GAME, they can't seriously make it worse, can they??
Ellmeister Posted April 1, 2012 Posted April 1, 2012 They may have been better performing but a shorter lease means less fixed costs overall/ having to renew the lease in the short term may be costly. The staff cannot say they would continue to do well for sure so makes sense I think.
flameboy Posted April 1, 2012 Author Posted April 1, 2012 It mighta been a mixup as RBS is the lender, misinformations etc. On the Gamestation front, it is quite a shame, I always find them a bit nicer than Game(though...darker?). Dunno whether the one I got my PS3 from survived, will have to pop by at some point. I'm not gonna lie either, I'm dissappointed GAME get to keep trading, but hopefully OpCapita will turn them around into something a little less shit than they were. I don't think there was ever a mix up...I think it was misreporting by mcv. I think for a trade publication of their type this is likely going to be one of the biggest stories they will report on for years and they milked it. Everyone quoted them and sourced their reports which largely seem to be without evidence.RBS only ever said they would take on the company if they had to to a the major creditor yet mcv spun this into days of stories about bids and such. It is a view doing the rounds on comment threads etc...around the internet. As for Game...I'd love it if they rebranded and did away with the horrible logo and changed to it saying GAME in the gamestation font etc...and then turn their stores into that more hobbyist vibe. I do still somewhat question OpCapita motives to some extent. I wouldn't be surprised if downsized versions of Comet stores start popping up replacing Game stores and maybe the Game will just be a section within them. Let's face it they've basically just bought a ton of very valuable high street leases that were never gonna be available so it wouldn't surprise me if they exploit this.
canand Posted April 1, 2012 Posted April 1, 2012 Confirmed: GAME saved Administrator PwC has confirmed OpCapita's purchase of GAME UK. Baker Acquisitions Limited, an entity advised by private investment company OpCapita, has picked up GAME's UK assets, including all 333 UK GAME and Gamestation stores that remained open during administration. The acquisition brings the UK business out of administration, which it has been in since last Monday. Baker said today it will provide GAME with "the capital it needs to trade on a normalised basis", and that the jobs of nearly 3200 GAME employees have been saved. Baker will also seek to re-employ a "small number" of staff who previously worked at GAME's head office but were made redundant last week. There are "no plans" for any further store closures, it said. Financial terms of the transaction were not disclosed, but media reports indicated GAME UK was bought for a nominal £1 fee. The cost comes from paying off the £85 million debt owed to GAME Group's syndicate of lenders, led by The Royal Bank of Scotland. OpCapita managing partner Henry Jackson said: "We are pleased to have reached agreement with the Administrator. We strongly believe there is a place on the high street for a video gaming specialist and GAME is the leading brand in a £2.8 billion market in the UK. "We have assembled a strong team of experienced industry operators to implement the programme of operational change that is needed. There is a huge amount to do but we look forward to the challenge of restoring GAME's fortunes in partnership with its employees and suppliers." PwC partner Mike Jervis added: "We are delighted to be able to secure this business sale and provide some much needed stability for customers, suppliers and employees alike in these uncertain times. The support of these stakeholders has been crucial over the last week and I would like to thank them for their support throughout this difficult period. "This means that the GAME brand will not be another one of the retail names disappearing from the high street in the current difficult climate." Source http://www.eurogamer.net/articles/2012-04-01-confirmed-game-saved
Guy Posted April 3, 2012 Posted April 3, 2012 Now we've all had this scare, what are the odds we'll all stop buying from the evil discounters online and start buying on the gloriously overpriced high street again? Slim.
flameboy Posted April 3, 2012 Author Posted April 3, 2012 Now we've all had this scare, what are the odds we'll all stop buying from the evil discounters online and start buying on the gloriously overpriced high street again? Slim. Very slim...As I don't think they will learn from any of their previous mistakes. I've never known a company to be going bust and had such an outpouring of negativity. Sure when Woolworths went down there were people saying it's turned into a glorified junk shop blah blah but a lot of people were sad. When Virgin became Zavvi and went down the shitter people seemed pretty down as it removed HMV's competition. However with GAME other than feeling sorry for stuff no body seemed to care for the company as such and there even people who are genuinely disappointed that they have been saved. Prices aside GAME need to make themselves a shop people want to shop at and have a meaningful shopping experience.
Sheikah Posted April 3, 2012 Posted April 3, 2012 It's still good to know that we have shops like GAME pay heating and lighting costs and passing this on to customers. Because if there's two things I know it's that that game disc boxes need both light and warmth.
Rummy Posted April 3, 2012 Posted April 3, 2012 Now we've all had this scare, what are the odds we'll all stop buying from the evil discounters online and start buying on the gloriously overpriced high street again? Slim. What would ever make you thing anyone'd do that? I buy my games online simply because they're cheaper than anywhere high street, GAME or not. I refrain from buying games from GAME because...well, they're GAME. They aren't related, and also probably an indicator of how they can't really turn around unless they match online pricing.
Jimbob Posted April 3, 2012 Posted April 3, 2012 It's still good to know that we have shops like GAME pay heating and lighting costs and passing this on to customers. Because if there's two things I know it's that that game disc boxes need both light and warmth. And don't forget that glorified Skyrim model i found in my local store, that needs to be kept warm.
Guy Posted April 3, 2012 Posted April 3, 2012 (edited) Prices aside GAME need to make themselves a shop people want to shop at and have a meaningful shopping experience. This is so true. I think launch and in-store events are going in the right direction - make people want to pay extra to keep GAME, as a unique brand, alive on the high street because of everything they get back from the experience of visiting the store. Although I don't know exactly how GAME can be saved and guaranteed many more years on our high streets, I'm sure there is definitely a way to do it. The question is do those in charge even care enough about a meaningful shopping experience to make the effort? What would ever make you thing anyone'd do that? I buy my games online simply because they're cheaper than anywhere high street, GAME or not. I refrain from buying games from GAME because...well, they're GAME. They aren't related, and also probably an indicator of how they can't really turn around unless they match online pricing. I was mostly referring to the amusing likelihood that 90% of the people who have been so passionate about saving GAME high street stores probably spend 90% of their gaming money with rival online retailers. I'm curious if the reality of having GAME taken away will prompt people to start using them more... but I'm also highly skeptical anything will change. Online purchasing really is too good to ignore. I think that my original question goes beyond GAME. Hell, it transcends gaming. The situation we've just been through with GAME will probably be happening with HMV before long. I predict they'll be the next major chain to have serious difficulties. Edited April 3, 2012 by Guy
Agent Gibbs Posted April 3, 2012 Posted April 3, 2012 What would actually make me consider shopping in GAME is actually some stock of games! I don't keen the top 20 plus a couple of others I mean a back catalogue hell even the ability to order stuff in! Look at tales of the abyss or games of a similar vein thu hardly ever reach stores and if they do it's 1 or 2 copies that once gone never return If you want something outside the top twenty you are forced to buy online.
flameboy Posted April 3, 2012 Author Posted April 3, 2012 This is so true. I think launch and in-store events are going in the right direction - make people want to pay extra to keep GAME, as a unique brand, alive on the high street because of everything they get back from the experience of visiting the store. Although I don't know exactly how GAME can be saved and guaranteed many more years on our high streets, I'm sure there is definitely a way to do it. The question is do those in charge even care enough about a meaningful shopping experience to make the effort? I was mostly referring to the amusing likelihood that 90% of the people who have been so passionate about saving GAME high street stores probably spend 90% of their gaming money with rival online retailers. I'm curious if the reality of having GAME taken away will prompt people to start using them more... but I'm also highly skeptical anything will change. Online purchasing really is too good to ignore. I think that my original question goes beyond GAME. Hell, it transcends gaming. The situation we've just been through with GAME will probably be happening with HMV before long. I predict they'll be the next major chain to have serious difficulties. HMV are very much in the grips of this problem. They've already had to renegotiate their finance agreements and such. Their solution to their own woes has been to use their shows to try and showcase higher quality branded music tech products like the speakers and headphones products for example. They also planned to pop in juice bars and create social areas not sure how widespread these plans have become the ones for my local store which were outlined over 5 years ago (when I still worked there) never materialised. I know they have gaming zones knocked about the place. It really makes a difference to get to view and try on listen to etc...but the problem is I think customers are more savvy and know to go try out that stuff and then go to an online retailer. Although they still have entire floors devoted to CD's when that's really not needed now. I think the holy grail for retailers is the Apple Store. Amazing looking stores with fantastic rich shop fittings and this social vibe where people can just go and hang out and such and not necessarily sell everyone in store something new every time. However where apple win is in purely selling their own products. Their other huge alternate revenue stream is of course itunes Music and App Store. For me if GAME wanna be a true enthusiast game store they need to look to the past not the future. Turn to the arcades of yesteryear. and try and evoke that social feeling. Have tournaments, social spaces with events for people to meet up etc.... Maybe even some guide of membership scheme for partaking (theirs your alternative revenue stream, maybe even tie it and give cheaper prices close to online) It be hard to not make it feel forced and natural like the arcades used to be but with the right branding and vibe etc... this could happen. They really need to start offering that value added (not added cost lol) which will make people enter their stores and more likely spending money.
Cube Posted April 3, 2012 Posted April 3, 2012 The Apple Stores are the most terrifying places on the planet.
flameboy Posted April 3, 2012 Author Posted April 3, 2012 The Apple Stores are the most terrifying places on the planet. People will feel that way but for those who are bought into Apple as a brand and their products it is a haven.
Cube Posted April 3, 2012 Posted April 3, 2012 Exactly - it's for people already invested in the product. Thus, it's a complete failure of a store design. Apple excel in making people want their products through other means.
flameboy Posted April 3, 2012 Author Posted April 3, 2012 Exactly - it's for people already invested in the product. Thus, it's a complete failure of a store design. Apple excel in making people want their products through other means. Which is what I said....I said they get people into the store and don't spend money but they know these people are spending money otherwise. It's hardly a failure...the values this instills to them helps build the brand in a very unique way (which is exactly what I think GAME need to try and foster) When I was in New York sure you had your guys chilling out but there were also a ton of tourist spending their money. GAME need to get people in their stores who are already in invested in the hobby of gaming (rather than invested in apple products) and then switch and bait them just like Apple have managed to give people a compelling reason to use itunes with the ipad and iphone as consumption devices. Sure at the end of the day the practices are slightly different but its still this ethos that I feel is needed.
Rummy Posted April 3, 2012 Posted April 3, 2012 I was mostly referring to the amusing likelihood that 90% of the people who have been so passionate about saving GAME high street stores probably spend 90% of their gaming money with rival online retailers. I'm curious if the reality of having GAME taken away will prompt people to start using them more... but I'm also highly skeptical anything will change. Online purchasing really is too good to ignore. I think that my original question goes beyond GAME. Hell, it transcends gaming. The situation we've just been through with GAME will probably be happening with HMV before long. I predict they'll be the next major chain to have serious difficulties. Fair point, I guess I was just thinking 90% of nothing is still nothing. Was anyone really that passionate about saving them? I'm a little dissappointed they've managed to survive, I'd have rather'd somehow Gamestation made it out alive with GAME left in the dust. I won't start using them more unless they sort their shit out, get their prices decent, their knowledge decent, respect customers/not just mug off the masses with a huge market appeal/stop peddling extra crap onto anything and everyone, and in some cases, sort out their stock. I realise half of this means less money/business in, but in the long run being who/what they were, they lost gamers. Regarding the stock, when Xenoblade was out they didn't have much stock, only had one version. Also when I went in looking for Tales of the Abyss they barely even knew what it was, let alone had it in stock. You can't be running on the high street with a name like GAME and be operating like that, imo.
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