GAME set to go under? - Where does it leave us?

Blastiel

Morning All,

Another doom and gloom story is doing the rounds about GAME now not being able to take stock of EA titles after SSX is released this week.

Given that the end appears to be near for GAME where do I stand on the following issues :

1.) If I pre-order a game they now cannot sell and I paid £5 deposite should I have to settle for in store credit or should I get my money back?

2.) I currently have £300+ pounds on "gift cards" which I have been saving up for my Star Wars LE Console, if GAME goes under will these still have be honoured? I remember Zavvi refusing to take gift vouchers when they went under.

Thanks In Advance

vuvuzela

If they do go, then you will be an unsecured creditor and get pennies to the pound if anything regarding the fiver pre-order.
If they go under, they will be taken over by administrators (in the best of circumstances unless they are immediately liquidated) and your vouchers may not be honoured - legally as they will be a new owner they will not have to take on liabilities of the former owners.
However, may just be a rumour but in your shoes I would look to spend the vouchers asap.

shaun_from_Africa

1/ You would be unlikely to get your £5 back as you would join a big list of creditors.

2/ If Game do go into administration, your gift cards may be worthless, so if there is a possibility that this may happen, I would suggest that you see if you can borrow the rest of the money to buy the console that you want as soon as possible.

somethingcorporate

vuvuzela wrote: »

legally as they will be a new owner they will not have to take on liabilities of the former owners.

This is simply not true, M&As are far more complex than this. If they do go in administration then it is likely that the liabilities may not be taken over by the new owners (if any are found) but it is by no means certain.

wealdroam

somethingcorporate wrote: »

If they do go in administration then it is likely that the liabilities may not be taken over by the new owners (if any are found) but it is by no means certain.

Which is pretty much what vuvuzela said...

vuvuzela wrote: »

...they will not have to take on liabilities of the former owners.

ThumbRemote

Ignore the discussion about whether the vouchers may or may not be valid - don't risk it, spend them as soon as you possibly can.

HappyMJ

I would be down there today and spending the credit on the card/vouchers ASAP. If you don't have enough money to buy what you want exactly then just buy anything. It'll be better than losing £300 and then getting pennies in the pound back in many months/years time.

SimbaSimon

I can't believe SSX is the last game there going to stock. With Ubisoft not releasing all the Vita games last week to them and Nintendo not releasing The Last Story and now EA the final nail is definately nearing for GAME group. I'd recommend buying your console ASAP, even if its the standard version and using up your voucher. When the LE console comes out you'd probably have to sell it and rebuy the LE elsewhere. After all the news on GAME I'd seriously be worried if I had a giftcard about now.

System

there's a good article about this on eurogamer

http://www.eurogamer.net/articles/2012-02-28-what-would-happen-if-game-died

pulliptears

I think I'd cash in my £300 in vouchers on a PSP Vita and games then get it sold on asap. Game has been shaky for some time and I haven't used them for pre orders etc for a while now.

paddyrg

SPEND THE VOUCHERS! Get something for them, even if you sell it on ebay the same day and lose 20% of the value on the spot, you'll be better off than if they are not honoured (and it is quite likely any administrator would dishonour them)