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LONDON—Stricken videogame retailer Game Group GMG.LN +0.42% PLC Monday declared itself insolvent after failing to find a buyer, putting thousands of jobs at risk and underscoring the bleak conditions on the U.K. high street.
The retailer said it has appointed accountancy firm PricewaterhouseCoopers as administrator after “careful consideration and ceaseless interrogation of every possible alternative.”
The move puts Game Group’s 1,300 stores—609 in the U.K. and Ireland—at risk of closure. The company employs 10,000 people, of which nearly 6,000 are based in the U.K. and Ireland.
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