GAME Australia seeking its own backers to survive

Leigh Harris
GAME Australia seeking its own backers to survive

GAME Australia is set to go it alone, as MCV understands it will seek independent funding to remain in business.

With the UK company now in a safe period before it faces the possibility of full administration, and with speculation rife that the UK and Spanish arms of the company are the only two likely to be saved by GAME Group investments, GAME's operations in other territories have been an unknown quantity up until now.

Paul Yardley, MD of GAME Australia, confirmed exclusively to MCV that: "GAME’s businesses around the world are going through a challenging time. Regarding our business locally, Australia is a separate legal entity and business from the UK, with a separate management team. The choices that GAME’s UK entities are making don’t necessarily impact us here."

"In case the UK entities do go into administration, the Australian management team and I are working hard on a number of viable alternative options for our business."

Yardley also confirmed to MCV that GAME Australia has been actively seeking investment either to keep the company afloat in the short term or an expression of interest in a full acquisition.

The GAME Group plc (UK) owns 100% of GAME Australia (TGW Pty Ltd). As GAME Group looks to sell its entire stake in GAME here, the Australian operation is utilising its own devices in securing the local company's future, and that of its 600+ employees.

The most likely candidates for such an investment are not from the gaming industry, but are likely standing investors groups and financial institutions.

In the case of a full buyout, the GAME brand itself may no longer be adorning the facades of the chains stores.

Yardley added: "We are fortunate that we have strong relationships with local publishers and continue to work closely with them. We will keep stocking the latest releases, as well as honouring all our pre-orders. Our aim, as always, is to ensure we remain as the destination of choice for our customers and continue to deliver great customer service and knowledge.”

These have been trying times for the staff at GAME, who have been watching the saga unfold from afar while remaining dedicated to their jobs.

GAME Australia will continue to trade as usual while management looks at options for its future.

 

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Tags: GAME Australia , Paul Yardley , GAME UK

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