They assert they're in constant "regular and constructive dialogue" with lenders who "remain supportive" of GAME. Sales were down 17.6% in the eight weeks to January 7th.
Online sales over the holiday period actually increased 3.9% with annual takings climbing 1.3%. Half a million new customers also signed up to the GAME loyalty programme too.
"Our industry had an incredibly tough 2011, and so did we," declared GAME CEO Ian Shepherd. "We remain the market leader and have a clear strategy which will return the business to growth. We are adapting to the changing market and are well prepared for the next hardware cycle."
The next major hardware release is the PlayStation Vita out February 22nd, but it offers the entire catalogue of games digitally via the PlayStation Store. GAME will need to make sure people are convinced owning physical copies are a better deal, or potentially lose a great source of revenue for the new platform.