Game customers could be left with unredeemed gift cards and loyalty points after it collapsed into administration yesterday.
According to reports, the entertainment retailer has “temporarily” banned all payment across gift cards and loyalty points until a buyer is found.
Yesterday, administrator PwC closed 277 stores, resulting in 2,104 redundancies. It is the biggest administration of a listed retailer since Woolworths hit the wall in 2008.
US retailer GameStop, Comet owner OpCapita and restructuring specialist Hilco are in the frame to acquire parts of the Game business.
The Financial Times reported that a stumbling block for potential buyers is the amount of working capital needed for the UK business, as large sums of cash are needed when new video games are released.
The Royal Bank of Scotland and Barclays are also believed to be leading a consortium of creditors to look at a bid for a smaller, more profitable version of Game.
PwC has hired GA Europe to assist it on the running of the business while it seeks a buyer for the business.