GAME Australia closes 60 stores, axes 280 staff
Administrator begins culling underperforming stores across region
Administrators for GAME Australia have announced plans to close 60 stores in the region, at the cost of 264 jobs. A further 17 jobs are to go at the firm's head office.
"This is a difficult time for employees and closing the stores was not a decision we made easily," said Kate Warwick of PricewaterhouseCoopers. "However it is not financially viable to continue to operate at this level at this time."
PwC is to assist employees with redundancy along with the local Federal Government Department.
GAME Australia was functioning with around 500 staff. PwC has not yet detailed which stores will close in the region, but noted that "after reviewing the financial performance and profitability of the individual stores, and we regard to current discussions with interested parties, it is not possible to continue to trade these stores."