All Australian GAME stores to close by the end of the week - Report

An anonymous source close to Australian retailer GAME has told GameSpot AU that the business may go into liquidation by the end of next week, shuttering all remaining stores with the business now "$120 million in debt."

Accountancy firm PricewaterhouseCoopers, who has been appointed administrator of the business, confirmed in an earlier report that several expressions of interest had been made for the company, but did not reveal the identity of any bidders in active discussions. An unnamed whistleblower has now told GameSpot AU that "there are no buyers" adding that they have "all walked away" suggesting that all remaining business assets will be liquidated.

A spokesperson for PwC, Meghan Senior, denied that the business is slated for liquidation, telling GameSpot AU that "there are a few options if the company is not sold," and elaborating that whilst it was an option it was not definitive.

The Australian arm of the British games seller has been in voluntary administration since mid-May, closing 60 stores and letting go of 281 staff.

According to the official Australian GAME website, the retailer is presently trading at remaining stores on an "as close to business as usual" basis and is still working to "clarify the status of pre-orders." Customers who have placed a deposit are urged to monitor the website for updates. GameSpot AU will continue to report as further information comes to hand.