Today we hear that video game chain, Game, has urged its landlords to become more realistic and renegotiate rents, as the retailer confirms 40 store closures across the country. This is a part of its rationalisation programme.
Notices have already been served on 13 sites including Canterbury, Leicester, and Watford. Now, 14 additional closures have been named, including outlets which are owned by Intu and New River, namely, Lakeside and Bexleyheath. The firm is expected to serve notice on the remaining sites in the coming future.
A spokesperson for Game explained that it is working closely with landlords to ensure that the worst-case scenario of vacating its 40 locations, leading to many job losses, does not happen.
“However, we are facing a challenging retail market and Game, with its extensive retail footprint, needs to restructure and landlords need to work with us in setting realistic, fair rents.”
This is unsurprising amid the high street crisis which sees many British retailers left struggling, from a not-so-perfect mix of political uncertainty, changing consumer shopping habits and rising business rates. As reported yesterday, 2019 was the worst year for retail since 1995.