GameStop Closing ‘Significant’ Number of Stores Yet Again

Video game retailer GameStop has recently been closing stores across the U.S. The company is not stopping with its most recent set of closures from January as it is currently preparing to close a “significant” amount of stores in the near future. GameStop closing more stores in favor of Bitcoin investment GameStop disclosed its decision […] The post GameStop Closing ‘Significant’ Number of Stores Yet Again appeared first on PlayStation LifeStyle.

Mar 27, 2025 - 22:56

GameStop Closing ‘Significant’ Number of Stores Yet Again

Video game retailer GameStop has recently been closing stores across the U.S. The company is not stopping with its most recent set of closures from January as it is currently preparing to close a “significant” amount of stores in the near future.

GameStop closing more stores in favor of Bitcoin investment

GameStop disclosed its decision to close more stores in a recent filing. While specifics on which stores will be impacted are not given as the company currently began a “comprehensive store portfolio optimization review,” it does confirm it anticipates a “significant number” of closures in the 2025 fiscal year.

“We have also initiated a comprehensive store portfolio optimization review which involves identifying stores for closure based on many factors, including an evaluation of current market conditions and individual store performance,” says GameStop in the filing. “This review, among other things, resulted in the closure of 590 stores in the United States in fiscal 2024. While this review is ongoing and a specific set of stores has not been identified for closure, we anticipate closing a significant number of additional stores in fiscal 2025.”

As GameStop plans to close more stores within the fiscal year, the company announced it will invest in cryptocurrencies, including Bitcoin, as a treasury reserve asset.

“On March 25, 2025 we announced that, as part of our revisions to the Investment Policy, the Board approved the addition of Bitcoin as a treasury reserve asset, whereby a portion of our cash or future debt and equity issuances may be invested in Bitcoin,” reads the company’s statement. “We have not set a maximum amount of Bitcoin we may accumulate, and may sell any Bitcoin we may acquire.”

GlobalData Retail analyst Neil Saunders discussed this move with CNN saying, “The pivot to Bitcoin is really a defense against irrelevance.” He continues saying it’s “an odd thing as it’s basically saying the strategy isn’t retail but to act as some kind of cryptocurrency investment vehicle.”

(Source: CNN)

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