Gamestation and GAME likely to go into administration, huge firesale on!

m5rcc

Game Group have been fickle and lazy thinking they would be oblivious to online giants. They charge full whack for games.

I would always buy the game on release date at Game, but it online when the price fell enough and then return the cheap copy to game for a full refund. The perfect arbitrage.

aroberts1974

No such thing as a fire sale on at my local GAME store. 2100 MS points still on at £17.50 (play.com is £16.99). Games are still expensive than supermarkets and other online retailers.

The only sale we'll see is the last day / or when the administrators get called in.

Sad times.

berrya1

thanks for the info. Do you think that store credit would still be useable WHILE the stores are in formal administration and fire selling? not sure at what point creditors get ring fenced. when administrators get appointed or when trading ceases?

m5rcc

aroberts1974 wrote: »

Sad times.

Not really. Poor management. They are getting as they deserve...

neilwoods

berrya1 wrote: »

thanks for the info. Do you think that store credit would still be useable WHILE the stores are in formal administration and fire selling? not sure at what point creditors get ring fenced. when administrators get appointed or when trading ceases?

more than likely when they cease trading, and you say bye to the credit. Why wait till that happens, if you have credit with them, get something half decent with it whle you can. If leave to late, only going to be the rubbish left.

That is unless they find a buyer.

Bikertov

berrya1 wrote: »

thanks for the info. Do you think that store credit would still be useable WHILE the stores are in formal administration and fire selling? not sure at what point creditors get ring fenced. when administrators get appointed or when trading ceases?

At the time when the Administrators are appointed by the Courts, that is when you become an unsecured creditor for your store credit - and it becomes worthless.

The creditors become 'ring-fenced' (your words) at the point of Administration - NOT when trading ceaces. It is too late for you by then.

The store may however, out of goodwill, allow you something like 50% of it's value against full price items - I think similar has happened elsewhere.

But, for your own financial safety, I would spend the credit and points NOW, while you can still find some stock.

m5rcc

Goes from bad to worse!

JasX

berrya1 wrote: »

Does anyone know how this may affect store credit? i.e. a gift voucher?

I have about £100 in store credit (through trade ins). If the group went into Administration would my credit be wiped out... I would rather not spend it just yet if possible?

Also does anyone know the date that the final administration decision will be made?

get that spent ASAP.

If they go into administration formally it WILL be wiped out (same wilt every store thats been in administration recently, they continue trading but the little sign goes up by the till that they cannot accept any gift vouchers or other 'cerdit' and you need to contact the administrators to maybe get back 5p per £1 you were owed in 2 years time.... maybe.

perhaps you can spend the credit on something (s) that'll sell readily on ebay? or something you can trade in for cash somewhere else ?

either way act soon or it'll be gone for good, I doubt they'll last past the month/quarter end on 31st MArch and may even fall before then.

JamesK10

@PaulReso - no worries. Can't help you with games suggestions as I spent my points on a Blu Ray, which arrived today.

berrya1 wrote: »

thanks for the info. Do you think that store credit would still be useable WHILE the stores are in formal administration and fire selling? not sure at what point creditors get ring fenced. when administrators get appointed or when trading ceases?

Put it this way, it turns out rent day is the last week of March instead of 1st April - and I don't know if it's Friday 23rd, or Monday 26th. So that gives you even less time. Once administration happens, from what I remember (correct me if I'm wrong anyone) when Oddbins went into administration in 2010 the vouchers went from that day, not whilst other wine chains or individual store managers were looking to buy stores from the administrator. Woolies, I can't remember.

DO NOT wait anymore. Drop EVERYTHING in the next couple of days or this weekend and get into a store if it's store credit and spend it off even if you leave with a different voucher or something you wouldn't have originally thought of buying. Then head online and do the same for any leftover points as above.

In terms of online orders, if my Blu Ray took three days then you've technically got until Tuesday to order safely and have it in the post but Monday 19th would be ideal.

fairywishes

I am having a slight panic we purchased our daughters nintendo 3ds via gamestation loyalty points when we traded consoles in it was puchased on release date of 25th of march 2011 and has just today gotten a fault :0( Searching high and low for reciept but are worried about returning it to gamstation incase they go bust whilst we wait for it to be repaired :0(
Looked at the box and it clearly states gamestation on it on the label and the price but noticed the slip inside the box directly from nintendo talks about it being returned there for faults but needing proof of purchase which we can't find as this console is not even a year old will nintendo honor return of it being faulty without a reciept any ideas what we should do?