GameStop reportedly shuts down greater than 400 US shops

Your neighborhood GameStop may be on the chopping block, together with greater than 400 different retail places throughout the US. As first reported by Polygon, the retailer is pursuing a extreme cost-saving measure by closing up a number of hundred bodily places. In keeping with a blog that retains monitor of GameStop closures, there are 410 places which are confirmed to be closing or are already closed, together with one other 11 which are reportedly additionally on their approach, as of January 10.

As Polygon indicated, these closings aren’t a lot of a shock contemplating GameStop’s SEC submitting for December 2025 indicated that it might “anticipate closing a big variety of further shops in fiscal 2025,” which ends on January 31, 2026. The identical submitting detailed that the corporate’s board would pay out the GameStop CEO, Ryan Cohen, as much as $35 billion in inventory choices, on condition that he will increase the retailer’s market cap to $100 billion.

Whereas the weblog covers solely closures within the US, the SEC submitting additionally famous that GameStop is planning to scale back its presence in a number of different European nations and Canada. Although GameStop noticed a historic spike in market worth in 2021, it has struggled with the model’s course, as seen with failed makes an attempt at providing a crypto locker and an NFT marketplace.