Today is the first official day of administration for UK-based games retailer Game Group, and the new business status has come with a few interesting developments for the company at large and its customers. For starters, CEO Ian Shepherd has resigned, turning control over PwC—the company handling the administration process. The CEO warned of further store closings in the near future.

Additionally, Game Group has issued a statement to fans via Facebook outlining how the administration process will affect them. Online sales are going to be off and on for the next few weeks, and refunds/exchanges have been suspended. The store will no longer take pre-orders.

Most importantly though, Game Group has noted that gift cards, rewards cards and GAMEWallet funds are no longer redeemable in stores. You can still trade in games and accrue points on your rewards card; you just can’t use those points until further notice. Nor can you trade games in for cash; you can only trade against another game. Hardware trade-ins are also suspended.

I don’t know how GAMEWallets work, so I’m not sure if that’s a huge rip-off to players. If you live in the UK and have some idea, let me know in the comments. However, I do know how gift cards work—someone gives you money, and you give them a gift card worth a similar amount of money. Not allowing people to use their gift cards is basically taking the money and running, right?

What do you think about Game’s new policies?

[Edge]

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