Grainger Games Limited (04201151): administration
- Status
- Administration ended
- Administration began
- 2018-04-04
- Administrators
- Steven Phillip Ross, Allan David Kelly
- Administrators' firm
- RSM
- Incorporated
- 2001-04-18
- Location
- Newcastle upon Tyne
- Industry
- 47410 Retail sale of computers, peripheral units and software in specialised stores
Why it went into administration
- Credit insurance / supplier credit withdrawn
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
Brief background The Company was incerporated on 18 April 2001 trading as a retailer of new and pre-owned gaming products.
The Company diversified its offerings to mitigate the changes in the care gaming sector and reduce the risk of a longer-term shift towards a digital delivery model for console gaming. During 2012 the Company commenced the sale of pre-owned mobile phones and tech products, within a new brand of ‘Trade Nation’ soon followed by a repair service for the same, branded as ‘Smartfix’. During 2017 the Company expanded into the sale of licenced, collectible merchandise, within a new brand of 'Be More Geek’.
Following a poor peak trading period over Christmas 2016 caused by the global apathy around certain games releases and new console launches scheduled during 2017, the Company experienced an EBITDA loss. Management immediately implemented a turnaround plan during early 2017 which included a number of central redundancies, reductions in director and management remuneration and an expansion of the non-gaming business.
Administrators' statement of proposals (2018-05-18) · Companies House register