Ailing videogame retailer Game Group will shut 277 of its shops in the UK and Ireland, making over 2,104 people redundant, the BBC reports.
The struggling high-street company has now officially entered administration, following financial troubles and stiff competition from online retailers. The company now needs to find a new buyer, with its remaining 333 shops staying open for now.
"The recent job losses are regrettable, but will place the company in a stronger position while we explore opportunities to conclude a sale." said Mike Jervis of PricewaterhouseCoopers, the company handling Game's administration.
If you're keen to see whether your local shop is going to continue trading, you'll be pleased to know that MCV is working on a list of the Game and GameStation shops in the UK that have closed their doors. If a buyer for the sinking retailer can't be found soon, then more closures will likely follow.
Meanwhile Game has posted an open letter to its Facebook page, detailing the company's aim of finding a buyer for the business now that it has entered administration. Refunds and exchanges have been put on hold, and the company has stopped taking pre-orders for new games.
Game reward cards have been suspended, and while you can still earn points, spending them is not an option until further notice. Gift cards have been suspended too, and the value can't be redeemed.
Trade-in of pre-owned games and consoles has been stopped, and if you have a GameWallet account (used for paying for online games) the value in your account has been suspended. Click and Collect has also been knocked on the head.
Disruption over online sales is expected, and indeed Game's website is currently offline.
Royal Bank of Scotland is, while US retailer GameStop and OpCapita, the company that bought Comet last year, are also rumoured to be in talks.
What do you think? Let me know your feelings on this news in the comments below, or over on our Facebook wall.