PriceWaterhouseCoopers has confirmed the GAME Australia’s administration has ended in full liquidation, with no hope of reprieve.
In a statement issued to MCV Pacific, administrator Kate Warwick said “with regard to current discussions with interested parties, it is not possible to continue to trade these stores”.
There had been some talk of a buyout, but following on from a creditors meeting at the end of last week it seems negotiation fell through.
The accountancy firm reiterated messaging that it had contacted the appropriate government department about getting affected former staff into the General Employee Entitlements and Redundancy Scheme.
“This is a difficult time for employees and closing the stores was not a decision we made easily. However it is not financially viable to continue to operate at this level at this time,” Warwick concluded.
So long, GAME Australia; our thoughts are with the approximately 500 staff affected by the closures.