GAME's Australian arm has entered voluntary administration (i.e. "bankruptcy"), with stores continuing to operate as normal for the time being.
The company wrote on its Facebook page: "We are still trading in all stores and will operate in a business as usual mode while the Administrators obtain a clearer understanding of the current state of the business and actively pursue options to secure its future."
According to VG247, GAME has approximately 500 employees in Australia. GAME's immediate troubles in the UK concluded last month when the company was bought, but that was after it shut nearly 300 stores and cut thousands of jobs.