The great reckoning of GAME's entry into administration began today, with the company closing 277 GAME and Gamestation stores across the UK and Ireland. MCV reports job losses totaled 2,104 at retail and 15 from the company's HQ, representing 40 percent of the troubled retailer's workforce.

The remaining 333 stores will stay open and try to continue business as normal while administrator Price Waterhouse Cooper continues to seek a willing investor. If a buyer can't be found, more closures will occur.

Beyond shuttered storefronts, GAME has also implemented a list of policy changes that will impact customers. The sketchiest changes include the suspension of gift cards and GAME reward cards. The company will also no longer take pre-orders and "no refunds can be given for any pre-order deposits which have been paid."

Posted: Mar 26, 2012 6:52 pm

Source: http://www.joystiq.com/2012/03/26/277-game-stores-shuttered-40-of-workforce-let-go-gift-cards-s/#comments