Citing an anonymous source close to the retailer, GameSpot Australia is reporting that all of Australia's GAME retail stores will be shut down by the end of next week. The anonymous source also asserts that the business is now "$120 million in debt."
Accounting firm PricewaterhouseCoopers, who is in charge of the company while it is in administration, denied the rumor. PwC spokesperson Meghan Senior tells GameSpot AU that "there are a few options if the company is not sold."
But another anonymous source speaking to GameSpot AA said that there are no buyers for GAME Australia lined up.
GAME Australia has been in administration since the middle of May and has already shut down 60 stores and laid off 281 employees.
Source: GameSpot AU