By Rob George 27/03 Updated: 27/03 15:50
TWO VIDEO games shops in Worcester have escaped closure after their parent company went into administration.
GAME, in CrownGate Shopping Centre, and Gamestation on Broad Street, have not been named among the 277 stores owned by the GAME Group which will close immediately.
Accountancy firm PwC were appointed administrators on Monday (March 26) and have wasted little time in wielding the axe on a large chunk of the ailing retailer's 609 shops, with the loss of more than 2,000 jobs.
The decision not to close the two Worcester stores has safeguarded 17 jobs but PwC still face the task of trying to find a buyer for the remaining chain of shops.
GAME's cash-flow problems had become so dire some suppliers had even refused to stock a number of its shops and the company eventually called in the administrators after it was unable to meet a £21million second-quarter rental payment.
Mike Jervis, joint administrator and partner at PwC said: "Our priority is to continue trading the business as normal while we continue to pursue a sale.
"The recent job losses are regrettable but will place the company in a stronger position while we explore opportunities to conclude a sale. My team and I will be doing all we can to help the affected employees at this difficult time.”
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