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GAME Has 'Lost Credit Assurance With Most Of Its Publishers', Future Release Stock In Jeopardy

Author:
Matt Gardner
Category:
News
Tags:
Credit insurance, GAME, High street, Sales, Trade news, UK retail

GAME Has 'Lost Credit Assurance With Most Of Its Publishers', Future Release Stock In Jeopardy

UPDATE: GAME have issued a statement to Eurogamer saying that the Vita launch will be unaffected by the current difficulties and have guaranteed that Sony's new console will launch in GAME.

"In terms of things further out like Vita, as you'd expect we're working closely with our industry partners and have got big plans for those launches. [...] There are pre-order campaigns in store. We're very excited about it. Yes [we can guarantee Vita will launch in GAME]. We have big launch plans for Vita."

Everyone's favourite purple, high street games retailer - GAME - is reportedly currently facing a number of financial issues, with the most immediate concern being the difficulty in obtaining credit insurance from a number of publisher agencies. The retailer is now working with a number of individual publishers to try and resolve its growing financial issues, internally "reassured by how supportive the games industry has been thus far".

Reports issued by both MCV and NowGamer shed light on the situation this morning, with the latter saying that a source told them that GAME "lost credit assurance with most of its publishers", and the former stating the same, confirming that "GAME is facing challenges regarding its credit insurance and that its financial landscape has changed significantly since the beginning of the year".

NowGamer also reported that GAME had debunked the rumours of staff not having been paid, with Simon Soffe, Communications Director for Game Group, issuing a statement to the site this morning saying that pay is "up to date as of yesterday" adding that the new releases for this week - the likes of Final Fantasy XIII-2, Metal Gear Solid HD Collection and Soul Calibur 5 - "are currently moving through Game's distribution centres for launch on Friday".

That said, both Konami's MGS HD and NeverDead are currently not listed (links lead to a "500 Error" at the time of writing), with the company themselves refusing to comment. We had noticed that there was a hiccup in SoulCalibur V being listed on the retailer's site - not there yesterday or the day before, but it's back again today.

Future new releases are in jeopardy, though, with reports of the retailer turning away pre-orders for Mass Effect 3 and a publisher executive telling MCV that "No credit from the agencies means no stock for the stores. It’s going to get worse before it gets better."

With the Playstation Vita due for launch next month, and the likes of Mass Effect 3, Twisted Metal and SSX, this does not bode well.

Add a comment7 comments
egoslayer01  Feb. 1, 2012 at 15:00

Its been a long time coming. game ripping everybody off with there low trade'in price's and high preorder price's' l won't miss them. there like the titanic going downnnnnnnnn

CheckeredKnight  Feb. 1, 2012 at 18:55

Its been a long time coming. game ripping everybody off with there low trade'in price's and high preorder price's' l won't miss them. there like the titanic going downnnnnnnnn


Low trade in prices? Both GAME and Game Station price match; if you do your homework you've got nothing to worry about.

The reason most trade-ins are low because the sale prices are low anyway. Customers are always on one side or the other. Complain prices are high (after more is given for a trade in) or complain they don't get enough trade in credit (despite it being sold for cheap.) Everyone is always the victim.

Also, I'm glad you wont miss them. Enjoy buying your games from PSN and XBL at full price for months and months after it has been released.

Personally, I think we need GAME there. I have seen no advertisement for Vita outside of the Internet; if it wasn't for my local Game Station having one in to demo I doubt many people would know about it at all.

phil16  Feb. 2, 2012 at 13:26

@CheckeredKnight - You do know GAME own Gamestation making your point pointless. Just try selling your games next time and you'll do far better. (Also I've seen Vita adverts in Sainsburys and online so don't know where you live?)

Justsam  Feb. 2, 2012 at 13:53

@phil16 thank you captain obvious, most people generally do know that, so generally the previous comment saying both stores price match in no way is pointless, I actually work in a Game store and really if you dont want to trade your copy of fifa 09 in for the £1 its worth when you expect upwards of £30 for such an old piece of **** then take it to Cex, or anywhere that offers trade in services, why would any store give you some unreal amount for a game that wont sell for more then like £10 at most? use your brain next time and in regards to "high pre-order prices" you dont pay to pre-order games or anything, you put a deposit down, if you dont buy it, you can get it back if you do buy it, the money comes off of the price you pay... kkthxbb.

Last edited by Justsam, Feb. 2, 2012 at 13:58
jerrymartin  Feb. 2, 2012 at 16:09

I hope Game do survive.

Although I agree that the Game Store, are not very cheap compared to online stores, take XBox live (12 months) Game is selling it for nearly £40, the amount of un-savvy parents I've seen purchase it at this price.

But we have to support are high street shops, it keeping people in Jobs and creates competition.. Also you have the convenience of popping in the store and not having to wait for your order to be delivered etc.

phil16  Feb. 2, 2012 at 16:49

@Justsam - As an employee of GAME I can see how your'd defend them to the death but a word of advise - get another job before the end comes.

As for preorders I didn't mention preorder once as I'm not stupid enough to do that more than once. If I want the game on day of release I'll go to shopto/amazon/play and order it the day of release where ever its cheaper thanks i.e. Not GAME.

I also didn't mention trading in the old junk and I've no idea why you'd think I'd bother - I'm talking about reselling new releases.

Maybe if you step out the door of GAME you'd realise the world has moved on and retail game stores are dead/dying on the high street. I'll get back to my real job now.

CheckeredKnight  Feb. 2, 2012 at 19:06

@phil16 Yes, I know GAME own Game Station. I work there. :)

I don't think the company is perfect, but I love my job and I feel the high street is important to the games industry. We make a lot of customers happy and do the best we possibly can (in my store at least.) Customers enjoy coming in to our store just to talk to us. I don't think they'd appreciate the sort of utter rubbish you wrote in your first comment here.

I don't blame you for ordering games where they are cheaper online, but the websites you listed there are far from perfect. Play and Amazon have both shafted me in the past (Amazon cancelling my order and Play not sending pre-order DLC out despite pre-ordering.)

Everyone is entitled to their own opinion and all that. I'm not sure why I even bothered responding, though. I'm sure you're bound to make another moronic response such as "herp derp, you work there therefore you'll defend them to death" or "I'll go back to my real job now." Very clever.

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