Game Group administrators close 277 stores across UK

UK retailer The Game Group has announced the company has formally entered administration following weeks of financial woes at the company.

Having signalled its intent at the end of last week, the first step taken by the chain's administrators – PricewaterhouseCoopers – has been to begin closing down stores across the country with immediate effect.

In a statement released by the company, Game said its board had "completed its discussions with lenders and third parties without resolution."

Around 277 of the 609 outlets of both Game and GameStation have had to close their doors, with around 40 percent of the company's workforce – or 2,104 jobs, to be precise – let go as a result.

Details of the exact branches shut down are unclear – trade magazine MCV compiling and updating a list throughout the course of the day – though it appears one branch of either chain is being left open in most major towns and cities.

These stores – likely either the outlet with the cheapest rent or highest sales – will remain trading as usual for the time being, selling off the chain's remaining stock.

Both store's websites, however, have already been pulled.

It's suggested more closures could follow if a buyer doesn't come forward in the coming days.

[source: Game]