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Games Workshop News

Bad news for Games Workshop invetsors, staff and fans.

Second Warning Blow to Games Workshop (This Is Money; Thursday 3rd May 2007)

In short, Shares have dropped from £4.10 to £1.95, 35 stores are closing and 10% of the companies staff are being made redundant.

I'll try and post my own thoughts later in the day but I'm dead busy atm.

Comments

( 11 comments — Leave a comment )
eryx_uk
May. 8th, 2007 10:37 am (UTC)
On one hand I'm not surprised, but on the other I'm quite shocked.
wyrdo
May. 8th, 2007 10:39 am (UTC)
I saw this when the news broke... and wondered; do they still ban hobby resellers from displaying images of GW minis on their website?
pond823
May. 8th, 2007 11:39 am (UTC)
WoW!
serpentstar
May. 9th, 2007 10:51 pm (UTC)
That and New Line cruelly stopped releasing big-budget GW promo movies every year or so...
gabby2600
May. 8th, 2007 12:56 pm (UTC)
It also could be becasue they are putting a lot on the the forth coming Warhammer online, probably betting a little to much on a success that may not happen.
corpsie
May. 8th, 2007 12:59 pm (UTC)
It's a real shame because the place right by me has been closed after 15 years.

They were riding high from the LOTR stuff. The crash has been coming for a while. It won't be the end, but I can see a fair downsize happening in the UK rather than the current (mostly) foreign closures.
angusabranson
May. 8th, 2007 04:29 pm (UTC)
Was that the Enfield branch?
corpsie
May. 9th, 2007 09:18 pm (UTC)
Yes, I remember being told I was too young to get a job there (and getting turned down for a job once I was old enough). I also remember not being caught in a bomb blast at Broadgate, simply because I didn't have enough money.

Looks like it's time to start a new era.
felineparadox
May. 8th, 2007 01:13 pm (UTC)
It is a shame but i'm completely unsurprised. Trying to run a games company in such a manner would be very difficult. I wonder how many companies are independently listed? WotC appear to be owned by Hasbro and I can't think of any others of the top of my head. Expensive business having to expand your market every year, personally I think you tend to get a line between 'for the fans' and 'for the cash' which when it comes to hobbies can be a very thin line indeed.
angusabranson
May. 8th, 2007 04:29 pm (UTC)
WotC was brought by Hasbro in the late 90's.

GW had a turnover of about £110 million a few years ago. I've no idea what it's like now though.

They certainly aren't a small company. Outside of WotC (whose contribution to Hasbro's turnover is almost certainly less than GW's overall turnover) you may have Upper Deck doing similiar numbers but everyone else falls dramatically down to the low millions (or more often less) with a handful hitting the tens of millions (and they're in dollars!).

As for the growth aspect, that's the same in any business. Regardless of size.
greeba
May. 8th, 2007 05:12 pm (UTC)
I've some good mates in the Nottingham staff, fingers crossed :(
( 11 comments — Leave a comment )

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