PricewaterhouseCoopers, administrator for GAME Australia, announced plans to close a number of underperforming retail stores in the country today. PricewaterhouseCoopers announced that it will close 60 stores in Australia and lay off 264 employees. Seventeen additional employees will be let go at GAME's head office as well.
"This is a difficult time for employees and closing the stores was not a decision we made easily," said Kate Warwick of PricewaterhouseCoopers. "However it is not financially viable to continue to operate at this level at this time."
PwC said that it will assist laid off employees throughout the process along with the local Federal Government Department.
The administrator did not reveal specific stores to be closed, but did say they have evaluated all of the Australia GAME retail locations and plan to cull those stores that are not proving to be profitable.
We will have more on this story as it develops.
Source: GamesIndustry International