A rough month for Australian retailer GAME continues its rocky course, and according to the latest update from appointed administrators PwC, there's no end in sight.
The best news that emerged from a recent creditors meeting was that a number of interested parties have come forth. “We’ve advertised for expressions of interest in the business from interested parties and the deadline for these closed yesterday," said PwC's Kate Warwick. "Despite the very challenging circumstances facing the retail sector, we have received various expressions of interest for parts of the business, including a number of parties expressing interest in the business as a going concern.”
Trouble is, those expressions of interest didn't exactly hand over fistfuls of cash to save the beleaguered brand, meaning GAME Australia's woes are likely to continue until around June 19, the date of PwC's next creditors meeting.
However, it's not from lack of effort, with PwC investigating the option of keeping at least GAME's more profitable stores up and running. "We are currently exploring the possibility of achieving a continuity of the business as a going concern with the company’s many landlords who appear pivotal to any continuation," said Warwick.
"As close to business as usual" is the mantra being trotted out, but given the chain's current up-in-the-air status, that might not inspire much confidence among consumers.
How about it? Still frequenting GAME's stores amid its current financial situation? Or have you spent your gaming dollars elsewhere? Let us know in the comments.
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