Game Mania, the parent company of retail chain Game Mania, has filed for protection from its creditors at the Antwerp corporate court. The company announced in a press release that it will now seek a buyer to take over the business.
The management cited several reasons for their decision, including the digitalization of the video game industry, intense competition in the retail landscape, and significant cost increases due to inflation. However, they emphasized that their primary goal is to maintain activities and employment as much as possible during this difficult period.
Despite these challenges, Game Mania has already taken several steps to improve its financial situation. They have shifted their focus to online sales, successfully launched a new store concept in Genk, and expanded their product range. The company assured that its stores will remain open during the search for a buyer.
The company court has granted protection for an initial period of three months. Game Mania did not disclose any specific financial details about its losses and debts. However, they remain committed to maximizing retention of activities and employment while finding a buyer who can ensure the continuity of their business.
Game Mania specializes in selling gaming products, board games, and pop culture merchandise with 35 stores and an online presence across Belgium and the Netherlands. They employ 165 people in total. The company is currently focused on finding a suitable buyer who can take over their business while maintaining their commitment to serving customers and staying active in the gaming retail industry.
In summary, Game Mania has filed for protection from its creditors at the Antwerp corporate court due to various challenges such as digitalization of video games industry, intense competition in retail landscape and significant cost increases due to inflation. The management is focused on maintaining activities and employment while seeking a buyer who can ensure continuity of their business.
