Over at paidContent, Robert Andrews sends word that Game Retailer Group is on the brink of collapse.
Europe’s biggest plastic-box video game retailer Game Group has warned its shares may become worthless, as it struggles to avoid the same fate that has beset retailers of physical-format music.
The group says it is trying to renegotiate its lending facilities with banks and its supply shortages with game publishers that are withholding stock while Game tries containing its financial problems.
I don’t get it. I don’t understand how the video game industry, an offspring of the computer industry, can continue to attempt to sell physical media and expect everything to be cool. We’re entering year 5 AI (After iPhone). Things need to have changed by now.
It’s like squatters staying in an apartment, refusing to pay rent, just waiting to be evicted.