GAME Australia: 281 Staff Retrenched, 60 Stores Closed

Layoffs at GAME Australia have begun in the wake of the company's shift into voluntary administration. Administrators PricewaterhouseCoopers today confirmed the closure of 60 stores across the country.

264 store employees and 17 head office employees will be made redundant as a result, according to information provided by PwC.

"This is a difficult time for employees and closing the stores was not a decision we made easily," said Kate Warwick of PwC. "However it is not financially viable to continue to operate at this level at this time."

“PwC has been in touch with the Federal Government Department that deals with General Employee Entitlements and Redundancy Scheme (GEERS) and will assist the employees with their applications.”

GEERS is a Federal Government payment scheme to assist employees who have lost their employment due to the liquidation or bankruptcy of their employer.

Before this announcement GAME had 92 stores throughout Australia. Which stores are being shuttered is unclear at this stage but after reviewing the financial performance and profitability of these individual stores, and with regard to current discussions with interested parties, administrators have concluded it is not possible for these stores to remain open.



Source : http://www.ign.com