GameStop starts closing down sales across Irish stores

47 Patrick Street Gamestop

Video game retailer GameStop has started closing down sales across a number of its stores in Ireland, including Cork. 

This follows the company's announcement earlier in March when it said it will be ceasing a number of services across its Irish stores. Customers were told that they would no longer be able to buy gift cards, trade or purchase used devices or pre-order store products. 

The store's Pro Loyalty membership was also no longer going to be issued, with GameStop urging customers to use existing gift cards "as soon as possible."

The company has now started closing down sales at a number of stores, including its branches in Cork, Kerry and Waterford.

The Irish Examiner has reached out to GameStop to confirm how many Irish stores will be closing down and when they would be officially exiting the Irish market. 

GameStop currently operates 35 stores across Ireland, eight in Dublin, six in Cork and three in Limerick. It has continually decreased the size of its Irish operations over the past decade, having operated over 50 stores in 2010. 

In its 2022 annual, GameStop's Irish arm warned that the current financial year had "challenges" and "raised questions regarding going concern." 

The company reported an after-tax loss of over €6m in 2022, with net liabilities of over €40m.

The report also noted that GameStop would "consider closing any stores that are not performing to expectations or where the cost base, particularly occupancy costs, are out of line with the business levels in the location."

Meanwhile, GameStop's US arm reported its first profitable quarter in two years yesterday, sending the stock price, which skyrocketed in 2021, up 40%.

Speaking on the results of its US arm, chief executive, Matt Furlong said: “GameStop is a much healthier business today than it was in the start of 2021. We have a path to full-year profitability.”