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General Chat Thread, Game share price - 80p in General; Game Group shares have now been suspended from trading: BBC News - Game Group shares suspended from trading...
  1. #46

    Dos_Box's Avatar
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    Game Group shares have now been suspended from trading: BBC News - Game Group shares suspended from trading

  2. #47

    Dos_Box's Avatar
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    Apparently they were worth 2.39p at close of trading yesterday.

  3. #48

    sonofsanta's Avatar
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    My favourite part was...
    The board now considers itself to be unable to assess the business's financial position, and is of the opinion that there is no equity value left in the group.
    ...oops.

  4. #49
    Pete10141748's Avatar
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    GAME has just filed for Administration.

  5. #50

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  6. #51

    sonofsanta's Avatar
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    Quote Originally Posted by Pete10141748 View Post
    GAME has just filed for Administration.
    Source?

    See post #46 by @Dos_Box


    EDIT: nevermind on the source... the BBC News page linked above has updated anyway
    Last edited by sonofsanta; 21st March 2012 at 11:50 AM.

  7. #52

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  8. #53
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    Shame really but always going to happen. Not many people are going to want to pay 39 quid for a brand new game in Game when you can pick up most games from Tesco or off the net for cheaper.

    I reckon now Game has gone bust chances are Tesco and online shops are going to see it as a chance to increase prices slightly seeing as there is now less competition.

  9. #54
    Pete10141748's Avatar
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    Quote Originally Posted by Sam_Brown View Post
    I reckon now Game has gone bust chances are Tesco and online shops are going to see it as a chance to increase prices slightly seeing as there is now less competition.
    I doubt it, it's only one (ok, two if you count Game and Gamestation seperately) shops out of the running - there are still tons of places both online and on the highstreet to buy games from. At this point any company who puts their prices up is just saying "hey, don't buy from us, go to our competitors instead!"

    Plus, places like Tesco make very little profit on the game when the sell them for 29.98 instead of 35 or whatever, the reason they do it is that once they get you in the store you are likely to spend money on other things as well - and at this point, retail shopping is about getting customers to come to you instead of their other usual stores more than anything else.
    Last edited by Pete10141748; 21st March 2012 at 03:18 PM.

  10. #55

    localzuk's Avatar
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    As far as I'm concerned, they deserve to go under because they simply haven't altered their business model to fit the industry that they are in. Bad for their staff though, which sucks.

    Box shifting is no longer a profitable endeavor, with the advent of internet shopping, downloadable games, and supermarkets selling games en-masse.

    So, they needed to adapt and provide some form of 'value added' service to their business.

    Using Games Workshop as a model for their stores might work - run events there, launch days, gaming competitions, make the products look good and encourage people to be at your store for things other than just buying things.

    Not to mention, basically eliminating PC games sales from their business model will not have helped - why not bring it back, but also link up with a PC manufacturer to sell PCs that can run games? Or graphics cards?

    Provide reviews of games in store, so that people browsing can see whether or not the game in their hand is their cup of tea.

    So many options to increase footfall, and increase profit, but no. A Game store now is basically the same it always has been - racks of overpriced boxes selling games that you can get cheaper elsewhere.

  11. #56
    MacGeek's Avatar
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    Game is going under. EA will not sell them stock anymore due to their financial troubles.

  12. #57

    Dos_Box's Avatar
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    Plus, places like Tesco make very little profit on the game when the sell them for 29.98 instead of 35 or whatever, the reason they do it is that once they get you in the store you are likely to spend money on other things as well
    Yup. I got Modern Warfare 2, some spaghetti, tinned tomatoes, mince, bread, fish fingers, eggs and sliced ham. I only went in for a paper!

  13. #58
    Pete10141748's Avatar
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    Quote Originally Posted by Dos_Box View Post
    Yup. I got Modern Warfare 2, some spaghetti, tinned tomatoes, mince, bread, fish fingers, eggs and sliced ham. I only went in for a paper!
    LOL with me it tends to more along the lines of "oooh, new game! I'm going to need pepsi/redbull/crisps/nuts/proplus/anythingCadbury/scotcheggs to get me through this at the weekend" :P

  14. #59

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    As said, entirely brought on by themselves. They had the software and the tech to do digital distribution first, and didn't. They lost out.

  15. #60

    sonofsanta's Avatar
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    Quote Originally Posted by synaesthesia View Post
    As said, entirely brought on by themselves. They had the software and the tech to do digital distribution first, and didn't. They lost out.
    Despite all that, I think they still could've kept going if they'd just had a decent catalogue in store. You wouldn't go into a specialist record store and only see the top 40 on CD, so why should I go into a specialist game store and only see the top 10 for each platform and a handful of scabby pre-owned FIFA games? Their stores were mostly empty space, and the few games they did have were overpriced.

    Gamestation were better in this regard - particularly for actually stocking second hand retro stuff - but they weren't the common store, GAME were. And GAME were rubbish.

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