News GAME Group looks for a buyer

GAME Group has appointed Rothschild to find a buyer as it enters its final financially-viable fortnight.

http://www.bit-tech.net/news/gaming/2012/03/12/game-group-looks-for-buyer/1

 

The writing is on the wall. I'd like to be optimistic for once and say that I hope they find a buyer.

 

It always surprises me that someone like Tesco or Google doesn't step in to buy this kind of company - it's an insignificant amount of money to them if they fail, but the rewards for publicity alone if they succeeded would be huge. Imagine a nationwide chain of Google Games stores, selling everything including Android games.

 

Actually, that would be a very good idea. Tesco already has a game section, but it's relatively small. This kind of move would get more customers into the shop buying games and then toher things.

 

I've had £25 of game store credit burning a hole in my pocket since Christmas. I best go and spend it this lunchtime before it becomes worthless!!!

The problem is, deducting £25 from most items in store brings the price into line with online retailers...

 

Stopped by Game this morning, and it hardly seemed like a going out of business sale. Pricey PC games and £35+ console titles a-plenty.

 

LOL. Serious? You think google wants a chain of stores? You think google sells enough physical products to justify a physical presence? Sure google could pull something out of a hat and release a whole chain of products but they haven't done that and even if they do they'll prefer the flexibility of online long before they go retail.

Am I alone in hoping they go under? I don't want people to be out of work but selling digital products through retail is just so 20th century.

I'm old enough to remember when Boots (of all places) was the place to go to buy your latest game, but I came to terms with WHSmith being the new boy in town. The double-decade since then hasn't really changed much just increased the choice and increased the prices.

But now you get a better choice and better prices if you abandon high street retail. The developers (Especially independent devs) make more money via ditching retail completely. So good riddance really.

I can't believe people want Tescos to take over, it's like asking a frickin' vampire to pop in for a cup of tea! Don't invite them in!

 

If you abandon retail stores you will only end up paying the difference from their loss in another part of your life.

Best thing to do in a recession is spend loads of money.

Personally I like to see people employed and large companies keeping this countries economy strong.

Tesco employ tens of thousands not just in UK but across the globe, so I'm not sure I understand the vampire comment.

Sent from my HTC Sensation XE with Beats Audio Z715e using Tapatalk

 

a pack of rizla's and a snake belt?

 

spend loads of money assumes you have it to spend

and thats the main issue for alot of famillys the recession has hit them harder now than it ever did before

people have just stopped buying none essentials ( games and cloths fall into that catagory )

Look at peacocks brand across the uk known by basically everyone, Even that failed to secure a buyer for all its assets.( around 60% of stores closed) If game is brought half the stores will shut down so your still looking at huge redundencies either way.

I personally dont think they will find a buyer, The shops ive passed in the last few days have been dead and these are in prime retail locations in the metrocentre and newcastle main shopping centres so not in the middle of no place.

 

http://www.google.co.uk/finance?q=LON:GMG

Ouch, 1.56p at the time of posting!

 

el reg reckons shares are down at 0.5p now. I think there's a role for retail stores, even if it just really gives people a chance to see physical objects (game sells lots of daft accessories and controllers as well as games). But i don't know - going to tesco express to trade-in a 2nd hand game would be well wierd.

 

Just remembered I have £7.50 of game points to use - might have to get those spent....

 

Yes, but what would be better for the economy and for people?

A) 10k people working for Tescos and brining in £10billion in revenue for Tescos?

B) 10k people working for themselves and brining in £10billion in revenue for themselves?

I've nothing against Tescos and supermarkets but a system where the vast majority of the profit lies with a single company is wrong.

Digital distribution doesn't cure that completely, but as a developer I'd much rather my products were sold online and I make 70% of the price, than them being sold in a shop where I'd be lucky to make 5% of the sticker price.

Ditch the retail model for games. It's antiquated and not needed anymore. Yes people will lost their jobs but that can't be avoided now.

My argument is basically to empower the little guy to make some money for themselves and if a few big names fall by the wayside (and we can't stop them) then that's okay in my book (Seeing as there is nothing I can do about it).

But...

It's not only digital distribution that's killed Game. It's the likes of Play and Amazon being able to undercut them and with the AAA titles still ship them out so they arrive on the day of release why buy from Game when you can save money elsewhere.

 

I feel sorry for the employees who might lose their jobs, but Game has had this coming for a long time

 

Same online, had to take a look with the news about them lately & looks like business as usual.

Even taking pre-orders.

Need for speed the run RRP £34.99 spring cleaning Sale price £34.99.

If they are about to go under it makes perfect sense with the amount of stores there is, nearly as common as mc donalds, surely there was never ever a need for so many game stores it's crazy, whoever made the decisions to open so many stores must be a huge part of why things are going or gone wrong.

 

I'd agree with Guinevere - what would be the point? Tesco already has a nationwide store network so adding another one would simply mean duplication - at High Street rentals. As for Google, retail stores are so far outside their core business (advertising and collecting/selling online data) that it would be like Microsoft going into the double-glazing business.

The only likely prospect would be a company in need of a nationwide store network. Amazon could be a player here, though I doubt their margins would allow for a significant High Street presence.

The way things are going, you may well be able to buy a majority shareholding in GAME with them...

 

Btw Tesco and Google were just two corporate giants that sprung to mind given that I was drinking a bottle of orange from the former, looking at the search plugin logo for the latter at the time.

 

Points all spent now - got AC:Brotherhood for free! Probably not helping with their financial situation however in taking a game from them for free...

I also noticed about them still taking pre-orders - ever the optimists eh? I'd hate to see them go under but in all honesty I wouldn't be surprised. I'm amazed that they've lasted this long with games online being almost always cheaper - same applies to HMV, WH Smith, Waterstones - amazon almost always beats them on price (and supermarkets more recently) - I imagine they're feeling the pressure also...