MCV/DEVELOP News, events, research and jobs from the games industry
UPDATE: Wednesday March 28, 12:27
Grainger Game’s website has now been taken offline.
https://www.graingergames.co.uk/ currently directs to a 404 page, pictured above. Whether this is a minor technical mishap or a sign that the firm is soon to cease trading and enter administration is uncertain, but we’ll continue to update the story as we find out more.
Original Story:
Grainger Games could be the latest victim of the weakening UK high street, with the games retail firm facing difficulties after having its supplier credit limits cut.
The chain has 68 stores scattered between Berwick and Derby in the north of England, and employs nearly 400 people. It reported a loss of £1.3m last year.
Speaking to Chronicle Live, Grainger’s CEO Stephen Bowyer has said that the the supplier credit limit cuts were "a shock to us all" and that they present "a significant operating challenge driven by factors outside our control."
The firm is now speaking to a number of parties regarding the future of the business, with investors reticent after several high-profile collapses in 2018, including Maplins and Toys R Us.
"Our trading has been strong in the period through Christmas with significant improvement against the previous year," claims Bowyer. "In January 2018 we secured long working capital facilities bucking the market trend to support our successful diversification strategy. However, confidence in UK high street retail has been at an all-time low which has been further impacted by recent retailer failures."
"Grainger has a strong brand across the North of England with a well known value proposition and diverse marketing offering. We are working tirelessly with our advisers to explore all options and are in dialogue with a number of interested parties regarding the future of the business."
In the meantime, some customers are finding out that their pre-orders for some titles have been cancelled.
