Games retailer sheds shops and staff
A computer games retailer has shut three shops and shed 20 staff after going through a pre-pack administration.
Bolton-based Game Xchange, which had seven shops across the North West and 44 staff, went into administration on May 5 with administrators at RSM Tenon blaming lower high street spending.
A deal between Tenon and the company’s directors Richard Moggridge and Andrew Parkes has saved 24 jobs and kept four shops open in Ashton, Blackburn, Stretford and Warrington.
The business, which had a turnover of £2m, has shut outlets in Bolton, Manchester city centre and Preston.
Joint administrator, Chris Ratten, said: “It has been an extremely difficult time for many retailers – particularly specialist stores such as Game Xchange. The company unfortunately fell into similar difficulties experienced by many small retail chains.”
Game Xchange’s assets have been bought by a new company Game Xchange Online. Administrators did not disclose how much was paid for the assets or the scale of Game Xchange’s debts.
