Game Mania files for bankruptcy after failing to find a buyer
Game Mania has filed for bankruptcy after failing to find a buyer, as announced in a press release on Monday evening. In late June, the retail chain sought and was granted creditor protection by the Antwerp Commercial Court and subsequently began searching for a buyer.
The company is now awaiting the court's decision, and as of Tuesday, 3 September, all physical stores will remain closed until further notice. However, the webshop will continue to operate for the time being.
Game Mania, which specialises in gaming products, board games and pop culture merchandise, operates 30 physical stores with 18 in the Netherlands and 12 in Belgium. They employ 120 people.
In June, the management had already pointed to the digitalisation of the video game industry and the highly competitive retail environment as significant challenges. Additionally, sharp cost increases due to high inflation further strained the company's financial performance. Financial details regarding losses and debts have not been disclosed.
© BELGA PHOTO JONAS ROOSENS
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