GameStop already shuttered 1,000 stores over the past year|Will Buckner|CC BY 2.0
GameStop revealed plans to close a “significant number” of stores in a regulatory filing this week. Over the past year, it has already shuttered 1,000 stores.
Though specific locations haven’t been disclosed, most of its recent closures were in the US, where the store count dropped to 2,325 after 590 locations were cut.
GameStop now operates 3,203 stores globally, a sharp decline from 6,000 a decade ago. The company is grappling with inflation, shifting shopping habits, and the rise of online gaming.
Additionally, the gaming store announced plans to sell $1.3 billion in private debt to fund bitcoin purchases as part of its shift toward cryptocurrency. The move did not sit well with investors, causing shares to drop 23% on Thursday.