As Woolworths’ closing down sale gets underway today, leading platform holder Nintendo has spoken exclusively to MCV regarding claims in UK newspaper The Sun about the amount of debt owed to platform holders by the Woolworths-owned EUK.
The tabloid yesterday claimed that EUK is expected to go into liquidation within days, taking with it a reported debt to Nintendo of 21 million.
However, speaking to MCV, the boss of Nintendo UK David Yarnton stated: The amount of debt to Nintendo is not as high as 21 million, as is being reported. The actual amount is about half. Moreover, the majority of this has been insured.
Accordingly, even if the amount eventually becomes uncollectible, the impact to our company is small.”
It is still hoped that a buyer for Woolworths and EUK will be found. Look out for a special report on the impact of the Woolworths/EUK situation on this site soon.