Video Game Retailer With About 50 New Jersey Locations Set To Shut Down Several Stores
It was just announced that this once-popular video game retailer will close even more locations throughout the country.
This comes after it already closed nearly a thousand stores within the past year.
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GameStop Closing More Locations
From retail to crypto, GameStop is expected to close a "significant number" of stores and invest money in cryptocurrencies, according to CNN.
They made the announcement last week in a regulatory filing with the U.S. Securities and Exchange Commission.
Sales continue to decline as buying habits evolve. People are increasingly purchasing games online and streaming them, instead of visiting brick-and-mortar stores.
CNN reports:
As part of GameStop’s pivot away from retail, the company also said that it’s getting into bitcoin as a treasury reserve asset, announcing that a “portion of our cash or future debt and equity issuances” might be invested in the digital currency.
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GameStop is one of those stores that's been around for what seems like forever.
The company was founded in Dallas in 1984 under the name Babbage's and rebranded to its current name, GameStop, in the late 90s.
Although several locations have already closed in New Jersey, according to NJBiz, there are still about 50 locations throughout the state, including stores in Toms River, Freehold, Ocean Township, and Hazlet.
No word yet on if or how many stores will close in New Jersey.
I'll continue to keep you posted.
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