"A number of parties" looking at GAME Australia

Ben Parfitt

Administrator PriceWaterhouseCooper has said that it is already talking to a “number of parties” about a possible acquisition of GAME’s Australian arm.

"Initially we will continue to trade all stores, operating these on as close to a 'business as usual' mode as possible whilst we get a clearer understanding of the current state of the business and actively pursue options to secure its future," a PwC statement released to MCV Pacific reads.

"Prior to our appointment, the company’s management had been exploring interest in investing in the business with a number of parties and we will look to see whether this interest can be harnessed to continue the business or part of it through the voluntary administration process.

"While we are still investigating the causes behind the Australian administration; the impact of the administration of its parent, an ambitious national roll-out combined with the current soft retail environment appear to be key factors.

"We are working on schemes aimed at giving customers some return on these claims if they are used to make additional purchases."

If the company is to survive a restructure is inevitable, but more worrying for employees a move to downsize also seems likely.

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Tags: GAME , Retail , australia , administration , interest , PwC

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