The first layoffs in GAME Australia's administration process have begun, with 281 people being let go today.
The company employed until today over 500 staff. Administrator PriceWaterhouseCoopers confirmed that of those who lost their jobs today, 264 of them were from retail stores and the other 17 were from the company's head office in Castle Hill, New South Wales.
This follows on from the news at the first creditors meeting on Wednesday that no firm buyer had yet been found to step in and save the company.
Kate Warwick, administrator for GAME at PwC, said: "Ms. Warwick 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.”
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