Video games retailer Game has announced plans to close 43 outlets, including all of its 25 Debenhams concessions.
Although a relatively small scale restructuring, which didn't warrant an announcement via the stock market's regulatory news service, the closures are a clear indication of Game's overexpansion. Game says the cuts will be made where two or more sites are closely located, in anticipation of tougher market conditions this year.
A spokesman for Game couldn't confirm the cost of the closures, but analyst John Stevenson at broker KBC Peel Hunt says the outlets were selected where the lease was coming to expiry or subject to a break clause. However, Game says it remains committed to a stores portfolio covering all major retail centres as well its dual-brand strategy, with Gamestation stores aimed at core gamers.
When: 22/01/10
Price: 97p
