High Street chain collapse sweepstake

JAS84 · Thu 02 Feb, 2012 00.32

Thames wrote:Bonmarche saved, but 100 or more shops look set to close!

http://www.bbc.co.uk/news/business-16680318

At least one of my local branches (Bransholme, Hull) is among them. According to the local newspaper, they were ordered to cancel a tombola which would've raised money for Macmillan Cancer, and that anything already donated for the tombola would be donated to another charity. That's just plain wrong, IMHO. The Whitefriargate (Hull City Centre) store is apparently staying open, so they could've just sent the tombola stuff there.

WillPS · Fri 03 Feb, 2012 15.00

UGO has gone after less than a year trading: http://www.thegrocer.co.uk/companies/di ... 78.article

My suspicion is that it has not actually been sold, and the press release is a cover story for the boss.

WillPS · Wed 29 Feb, 2012 17.16

Oh dear: http://www.bbc.co.uk/newsbeat/17210489

Nick Harvey · Wed 29 Feb, 2012 17.36

Not that they're exactly going to collapse any time soon, but who'd have put money on the Eden Project being in a bit of trouble?

JAS84 · Thu 01 Mar, 2012 16.47

barcode wrote:I don't think game will be going anywhere for the time being, it does need a proper wake up call. Maybe time to merge game and gamestation shops and brands. I went pasted my local game ship on boxing and there 30min ques to the till.

You were saying? It's worse than that new BBC Newsbeat link says. You won't find The Last Story, Mario Party 9, Tekken 3D, or anything new from EA except SSX, in GAME or Gamestation any time soon. Not unless they're pre-owned anyway.
http://www.digitalspy.co.uk/gaming/news ... -game.html

Pete · Wed 21 Mar, 2012 11.40

lukey wrote:I'd also doubt that Game will go.

YOU'RE WRONG, HUTTON

WillPS · Wed 21 Mar, 2012 14.19

In fairness, I would not have envisaged GAME going before HMV.

Critique · Wed 21 Mar, 2012 19.16

After reading some article about GAME possibly going into Administration, I went out and spent those Reward points that I'd accumulated for buying little bits and bobs, like Dr Kawasaki's Brain training for DS...

DVB Cornwall · Wed 21 Mar, 2012 20.29

21 March 2012

Notice of Intention to Appoint an Administrator

"Further to this morning's announcement of the suspension of trading in shares of GAME Group plc, the board has concluded that its discussions with all stakeholders and other parties have not made sufficient progress in the time available to offer a realistic prospect for a solvent solution for the business. The board has therefore today filed a notice of intention to appoint an administrator.

In the short term the Board's intention is that the business will continue to trade and discussions with lenders and third parties will continue under the protection of the interim moratorium."

see here ……..

LONDONSTOCKEXCHANGE.COM
21-Mar-2012 @ 20:28

Dr Lobster* · Wed 21 Mar, 2012 20.49

it does seem amazing that game managed accumulate such debt.

and whilst i do feel sorry for the smaller companies that inevitably lose money when a company like this goes tits up and inevitably is at the bottom pile for getting their money back, the surely the suppliers of companies like this really have failed due diligence by continuing to give credit to them in the first place? who on earth would lend cash to a company already 200m in dept? only an idiot surely? it seems at least some suppliers refused to deal game in the end.

but it's not as though their plight has been a great surprise and the business model of having several shops selling the same thing in the same town, sometimes almost next to each other, is beyond stupidity, given that the bricks and mortar is one of the largest liabilities for the company.

i remember in the good old days though, before the recession, game used to be packed full of bo stinking teenages, not like that anymore. last time i walked past there was just a handful of people browsing.

shame really, if they had expanded into high performance gamer PCs, tablets, and other gadgets they might have been able to survive.

bilky asko · Wed 21 Mar, 2012 22.44

Dr Lobster* wrote:it does seem amazing that game managed accumulate such debt.

and whilst i do feel sorry for the smaller companies that inevitably lose money when a company like this goes tits up and inevitably is at the bottom pile for getting their money back, the surely the suppliers of companies like this really have failed due diligence by continuing to give credit to them in the first place? who on earth would lend cash to a company already 200m in dept? only an idiot surely? it seems at least some suppliers refused to deal game in the end.

but it's not as though their plight has been a great surprise and the business model of having several shops selling the same thing in the same town, sometimes almost next to each other, is beyond stupidity, given that the bricks and mortar is one of the largest liabilities for the company.

i remember in the good old days though, before the recession, game used to be packed full of bo stinking teenages, not like that anymore. last time i walked past there was just a handful of people browsing.

shame really, if they had expanded into high performance gamer PCs, tablets, and other gadgets they might have been able to survive.

That last paragraph probably shows why HMV has lasted longer.