Industry: GAME Australia Seeks to Go it Alone
As we’ve reported earlier, UK-based retailer Game is probably going into receivership soon. It has massive rents coming due and its board of directors had stopped the trading of its stock on the London Stock Exchange. It is definitely hurting. The pain is not just going to be felt by its UK employees, however, because Game also has an Australian arm.
The Australian business employs around 600 people. Given the dire straits its corporate parent is going through, the Australian arm of Game is trying to go independent. It has the blessing of its UK corporate parent. The Australian business is a wholly separate business and legal entity. It has its own separate management roster. Game Australia’s managing director Paul Yardley hopes to execute a backup plan in the (very likely) event Game UK goes into receivership/administration. Yardley said that in the event Game UK becomes insolvent, the Australian team are working on some alternative options for the Australian business. These options range from short-term investments to a full-on buy-out of the company. Regardless, Game Australia’s operations are proceeding along normally. The Australian business is more solid than its British parent.
Yarley say that his company is lucky to have strong relationships with Australian publishers and the company will continue working closely with them. Game Australia will be stocking the latest game released and will be honoring all pre-orders.