The statement states that all remaining stores are closing down, and confirms the final numbers of staff being let go (after the initial round of layoffs took place after the first creditors' meeting on 23rd May) as being 264 retail employees and 17 people from the company's head office in Castle Hill, New South Wales.
On the decision, the statement says "with regard to current discussions with interested parties, it is not possible to continue to trade these stores."
Kate Warwick, GAME administrator at PriceWaterhouseCoopers, said: "This is a difficult time for employees and closing the stores was not a decision we made easily. However it is not financially viable to continue to operate at this level at this time.”
“PwC has been in touch with the Federal Government Department that deals with General Employee Entitlements and Redundancy Scheme (GEERS) and will assist the employees with their applications.”
For a full wrap-up of the events leading to GAME's closure, check out MCV Pacific's dedicated page.