GAME confirms 40 store closures

GAME has today confirmed that it intends to close 40 stores throughout the UK.

To date, 13 sites have had notice served, including existing stores in Mansfield, Canterbury, Watford, Glasgow Fort and Leicester.

Yesterday, notice was served on a further 14 sites, impacting outlets owned mostly by Intu and New River. These include Derby, Norwich Chapelfield, Lakeside, Bexleyheath and Carmarthen.

GAME intends to serve notice on the additional sites in the near future.

A spokesperson stated: “We are working closely with landlords throughout the UK to ensure that we do not have to vacate the 40 locations which could lead to a number of job losses.

"However, we are facing a challenging retail market and GAME with its extensive retail footprint, needs to restructure and landlords need to work with us in setting realistic, fair rents.”

Last June, GAME was sold to Sports Direct for £52 million, with a statement at the time not ruling out possible store closures and job losses, as Mike Ashley's group suggested that the gaming retailer might not be able to face up to the continued pressures in the retail industry “as a standalone business”.

GAME's sales fell 4.7 per cent to £492.9 million in its first half 0f 2019, but cost-cutting initiatives and higher margin sales boosted interim pre-tax profits 20.3 per cent to £14.8 million.

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