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GAME's Stores Not Closing This Week, No Decision On Liquidation Until June 19

Yesterday Gamespot received an anonymous tip claiming GAME was on the brink of liquidation, and that all Australian stores would be closing by the end of the week. GAME’s administrators at PwC, speaking to Kotaku, have claimed this is not the case. There are no plans to close the stores at this stage, and decision to go into liquidation can’t be made until the next creditors meeting later this month.

According to PwC’s Meghan Senior, the stores are not closing this week, and any decision on liquidation will not be made until the next Creditors meeting on June 19, if it’s made at all.

“Someone’s been going around saying that GAME is going into liquidation, but that decision won’t be made until the next creditors meeting,” said Meghan.

Meghan state there are still prospective buyers, but even if no buyers are found, there are still options involved that may help GAME avoid liquidation — one of those options is handing the company back to the original Directors, if the company can prove that it will be sustainable.

There is a possibility that GAME’s current sale, which started as 25% off sale and then quickly moved to 40%, is the starting point for rumours of GAME’s imminent liquidation, and there is a possibility that still might occur but, for now, the stores will remain open.

“I’ve been informed that the 40% sale is simply an attempt to move stock and get customers into the stores, it’s not a closing down sale,” said Meghan.