Iconic gaming business EB Games said it will be closing 19 unprofitable stores across Australia by the end of January but will be opening more large format stores this year.
The company, which has more than 400 branches in the country, has sent emails to EB World members to advise them of the move and massive discount offers.
“Like all businesses, we are constantly evaluating our property portfolio to ensure that our stores mix is in-line with the ever changing retail landscape,” an EB Games spokesperson told Inside Retail.
The closures are expected to result in a number of job losses. EB Games, however, said staff were offered opportunity work in surrounding stores.
The video game and electronic retailer will close branches across six Australian territories which include New South Wales, Victoria, Queensland, Western Australia, South Australia and the Australian Capital Territory.
Later this year, EB Games said they will continue to open more large format stores that will combine the power of both the EB Games and Zing Pop Culture.
“These hybrid stores, combined with our strong omnichannel offering, six million loyalty members and 300 plus locations across Australia, will see EB Games continue to be one of Australia’s largest specialty retailers.”
All stores that will be closed will have massive sales with products discounted from 20 per cent to 60 per cent.