GameStop Confirms Upcoming Closure of 180-200 Stores
Mike Sanders / 1 year ago
It’s hardly any secret that as gaming consumers, we’re all (mostly) starting to transition towards digital rather than physical purchases. As such, for high street retailers, times are getting hard and that’s no more prevalent than within the US retailer GameStop.
The companies decline over the last 2 years has been pretty dramatic. Just to put this into context, a former share price of over $20 has since plunged to around $3. As such, it was well-known that the company was looking to significantly tighten its belt. We, therefore, as you might expect, first saw this with significant staff cuts a couple of months ago.
In a report via GamesIndustry, however, this is only set to get worse as GameStop has confirmed plans to close around 180-200 stores.
GameStop Confirm 180-200 Store Closures
Now, while this might sound dramatic, there are certain aspects of this that need putting into perspective. For starters, while 180-200 sounds a lot, it’s (relatively speaking) not that large when the consider that they have around 5,700 stores. In addition, GameStop has said that they’re only closing stores which are, at the time of the decision at least, not making any money.
It is, however, still a large number of closures and, by proxy (and perhaps hidden within the announcement) clearly more jobs on the cutting block.
While the store does have a pretty lousy reputation (particularly with how it treats its staff) I don’t think anyone wants to see it go. Drastic measures, however, are clearly necessary and we can only hope that this might be enough to steady the ship for at least the foreseeable future!
What do you think? – Let us know in the comments!