All EB Games outlets in New Zealand will close by the end of the month following 'multi-million dollar' losses
EB Games will close all 38 of its New Zealand outlets by the end of January following a "multimillion-dollar loss during the 2024 fiscal year". In an internal memo seen by RNZ, the retailer's New Zealand managing director, Shane Stockwell, told employees the decision was made after "significant and repeated efforts to turn the business around".
EB Games Australia launched in 1997 as Electronics Boutique. Its first New Zealand outlet opened in Auckland in 2000, and in 2002, Electronics Boutique rebranded globally to EB Games. GameStop acquired the company in 2005 for $1.44 billion, and it's been owned by the Texas-based corporation ever since.
In addition to the closure of 38 retail outlets, the New Zealand distribution centre will close on February 28. In a note on the EB Games website it's confirmed that access to ebgames.com.au will open to New Zealand customers "by the end of March 2026". It's unclear how many jobs have been affected.
According to Stockwell's internal memo, the company had received proposals from third parties following early reports of the closure. In the end, "these parties did not present any proposals or solutions about how to keep the New Zealand business sustainable".
While 336 EB Games outlets remain open in Australia, the company has needed to shift gears to stay competitive in the face of stiff competition from Amazon and JB Hi-Fi, not to mention the slow decline of physical game sales. These initiatives include a pivot towards pop culture merchandise, as well as a new retro gaming trade-in initiative. In 2020 the company closed 20 outlets across Australia.
Physical PC games haven't been a going concern for over a decade save some outlier cases, but EB Games does hold some lingering relevance to the hobby. It sells handheld gaming PCs and a range of PC peripherals, including gaming beds, which is a thing that exists.
For those who have pre-orders, laybys, or pending warranty claims with EB Games, in the vast majority of cases you'll be refunded. All the details on the closure are here.