GAME Australia Now Also In Administration

Fluffeh writes "Yesterday the Australian Division of GAME saw an email from their Marketing Manager confirming that the 95-store chain has gone into voluntary administration. PriceWaterhouseCoopers partner Kate Warwick said, 'Initially we will continue to trade all stores, operating these on as close to a "business as usual" mode as possible whilst we get a clearer understanding of the current state of the business and actively pursue options to secure its future.' It also seems that GAME is having a bit of a fire sale, with many titles, including quite a few new releases, now in a $5-$74 bargain bin. Ms. Warwick also noted that the company's customers hold various claims against the company under loyalty cards, gift cards and vouchers. She said, 'We are working on schemes aimed at giving customers some return on these claims if they are used to make additional purchases.'" This follows similar news from the UK in March.

Re:Could you write this in Non-Australian?

[bloodhawk]

PS: Voluntary administration is basically the step before liquidation/bankruptcy. An external entity is appointed to basically look over the books of the company on behalf of the creditors and then decide what is the best way forward to salvage the creditors money. options could include selling the company, breaking it up or simply liquidation