GameStop Confirms Wind Down of Operations in Germany
As part of its current quarterly results, GameStop has also confirmed its withdrawal from Germany. This will be completed before the end of the current financial year. GameStop does not want to rule out further, even extensive store closures at this time.
After the closure of all German branches of GameStop was revealed by employees on Reddit and various media outlets reported on the withdrawal, the US retail company has also officially confirmed the closure of GameStop in Germany. The current quarterly report of the listed company states: "During the third quarter of fiscal 2024, we initiated a plan to wind down our operations in Germany, with store operations scheduled to end by the close of the fiscal year. In connection with this plan, we recognized impairment expense of $1.0 million."