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Monday, May 14, 2012

Administrators appointed to GAME Australia

Although GAME in Australia dodged the initial bullet that hit its parent company in the UK, it looks like trouble has finally caught up to it and it has gone into voluntary administration.

PricewaterhouseCoopers Australia has been appointed as administrators. For now the business is continuing to operate as normal, although there have been some conditions placed on preorders, gift cards and the loyalty club (see below).

A pity, because GAME, unlike EB Games, stocked some rare games quite cheaply, and was in the process of some exciting renovations to its business model. Hopefully the administrators can figure a way out for the company.

From the PricewaterhouseCoopers document:

Initially we will continue to trade all of the Company’s stores, operating these on as close to a 'business as usual' basis as is possible in the context of a voluntary administration whilst we get a clearer understanding of the current state of the business.

This means that store hours will remain unchanged and all stores will remain open at this stage.
What if I have pre-ordered a game?

We are still working to clarify the status of pre-orders. At this stage we are intending on honouring
certain pre-orders placed on the Diablo III and Max Payne new releases.We will provide clarity on
these and other new releases in due course.

We are not able to refund customer deposits and customers who have paid a deposit for a pre-ordered item at this stage should continue to monitor the website for further updates.

What if I have Gift Cards, Gift Vouchers or in-store Credits?

We are prepared to honour existing gift cards, gift vouchers and credit notes for most of the products
in our stores or online on the basis that these can only be used for 25% of the total purchase price. For example if you have a $15 gift card, you are required to spend at least $60 in store or online, in order to redeem notes cannot be used in conjunction with other customer benefits such as pre-payments, loyalty programme/GAMEON points etc.

We are not able to provide refunds to customers who hold gift cards, gift vouchers and credit notes.
Customers who are unable or unwilling to apply them in the amended scheme set out above may have
an unsecured claim against the Company and should complete the Proof of Debt form (attached
below), providing details of your claim as well as the original gift card, gift voucher or credit note.

Proof of Debt forms should be posted to:
C/Mary Mullins
PwC
GPO Box 2650
NSW1171

Unfortunately we are unable to issue new gift cards, gift vouchers or credit notes at this stage.

What is the status of the loyalty program (GAMEON)?

We are prepared to honour existing redemptions under the loyalty program on an adjusted basis as
outlined below. Points can be used for up to 10% of the purchase price of existing products (for example if a game was purchased for $20, this would need 1000 points worth $2 and $18 of cash). Points cannot be used in conjunction with other customer benefits such as gift cards, vouchers or credit notes.

Unfortunately customers will no longer be able to accrue further points under the loyalty program at
this stage. Customers who hold points and are unable or unwilling to apply them in the amended scheme set out above may have an unsecured claim against the Company and should complete the Proof of Debt form (attached below) providing details of your claim including your loyalty card number and balance of points. Proof of Debt forms should be posted to:

C/- Mary Mullins
PwC
GPO Box 2650
NSW1171
Administrators appointed to GAME Australia
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