GAME to close 40 stores across the UK

GAME confirmed today that it intends to close 40 stores across the UK today.

In an announcement, GAME announced that it would close 40 stores in the UK, including 13 notified sites.

These include shops in Mansfield, Canterbury, Waterford, Glasgow Castle and Leicester. Yesterday, the notice was delivered to 14 other sites, including Derby, Norwich Chapelfield, Lakeside, Bexleyheath and Carmarthen.

The company said it intends to issue notices on other sites in the near future as part of its "rationalization plan" unless commercial property owners cut rents.

A GAME spokesperson said:

"We are working closely with landlords across the UK to ensure that we do not have to evacuate these 40 locations, which could lead to a significant loss of jobs.

"However, we are facing a challenging retail market, and GAME has huge retail coverage and needs restructuring. The landlord needs to work with us to determine realistic and fair rents."

Back in June, British street chain Sports Direct bid for the retailer, and if successful-and successful-would close or merge existing stores. The acquisition is owned by Frasers Group for a purchase price of £ 52 million.