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By Vittorio Hernandez: Subscribe to Vittorio's RSS feed | June 20, 2012 7:02 AM GMT
PricewaterhouseCoopers (PwC) announced on Tuesday that the 31 remaining All GAME stores in Australia would be closed after failure to find a buyer. PwC was appointed administrator of the video games retailer after All GAME's British parent company collapsed and placed into administration.
Of the 31 outlets, 16 would be shuttered immediately and 15 to be shut down progressively.
Kate Warwick and Greg Hall, administrators from PwC, said part of the final closing down sale would offer up to 60 per cent price off on video games purchased in-store and online.
"This is a difficult time for employees and closing the store was not a decision we made easily. Despite exploring available opportunities for continued trading, the ongoing trading performance and absence of viable offers for the purchase of the business has resulted in these closures," Ms Warwick said in a statement.
In May, All GAME announced the closure of 60 stores and axing of 281 jobs including the head office staff. The firm had 90 stores across Australia and its $33 assets million under review.
Australia's video game industry, which reflects developments in the larger retail sector, has been on a downhill. In the past few weeks, WOW Sight and Sound closed and Dick Smith said it would abandon the gaming market.
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