Is GAME Group Worthless?

Following reports that GAME Group is being denied new titles by suppliers the company has put itself up for sale and warned shareholders that their equity in the firm may be worthless.

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matthewjgildea2411d ago

We'll have to see if anyone buys them. If not, you could consider them a lost cause; worthless. They're not making money, have tonnes of stores creating a large expenditure, and a market that is slowly going to the internet for its cheaper gaming needs. GAME may not be worthless, but it will be unless it changes how it manages itself.

OmegaSaiyanX2411d ago

GAME tried monopolising hte market by buying up Blockbuster, Gamestation and Gameplay and look where that got them...

bumnut2411d ago (Edited 2411d ago )

Im glad they are in trouble, after years of ripping people off with terrible trade in prices/high game prices they deserve it. I have avoided them for years.

But I do feel bad for employees who will lose their jobs, Its not their fault, its the fault of senior management.

glynny912411d ago

The way I see it now is that it could go two ways: Other stores can cut their prices because they will have lost a big competitor OR other stores will raise prices because gamers have less choice of where to buy from

bumnut2411d ago

I don't think other retailers will raise prices, they will be scared that they could be next.

Hopefully retail game prices will fall.

Revvin2411d ago (Edited 2411d ago )

I feel sorry for the workers on the shop floor, its not a good time to be out of work if the worst happens to GAME/Gamestation/Gameplay but they are being led by idiots. They bit the hand that feeds, they promoted used games over new and then wondered why publishers took steps to take their trade away like online passes, exclusive DLC and moving faster towards digital sales. The supermarkets selling blockbusters like FIFA and Call of Duty each year at knock down prices hurt them further but I felt no pity for GAME because they built a monopoly and squeezed out the small independent stores in the same way years ago. Their greed in increasing their monopoly saw them take on too many stores, even with my untrained eye, having so many stores was not sustainable.

tigertron2411d ago

Nobody will want a company that is millions in debt. Not in this economy. I think GAME are finished tbh, its been on BBC news with that awesome ME3 trailer.

The only positive I can see is that independent game stores will do better. When (its a question of when) GAME/Gamestation close down my local independent shop will probably do some better trade, but its the online retailers and supermarkets that will ultimately benefit.