GameStop To Close All Locations In Spain

GameStop, the chain that once had a monopoly on video game retail, is closing all of its locations in Spain.

Pending approval by the Spanish Competition Authority, all GameStop stores will be taken over by GAME--a United Kingdom-based company that, according to GameStop, "has a strong consumer presence in the country."

Mike Mauler, the executive Vice President of GameStop International, assured fans about the transition. He stated via a press release, "We are focused on ensuring commitments to our customers, employees, vendors, and other stakeholders are met during this process."

The company clarified its reasoning as to why it decided to close its operations in the European country.

"The strategic decision to exit the Spanish market was made after a careful review of the market's financial performance and future opportunities," GameStop said, "which ultimately indicated the Company would be better served by curtailing its operations in Spain and focusing its resources in other countries where GameStop has significant market share.

GameStop expects to maintain and expand its presence in the other European countries in which it currently operates."

Last year, Digital Trends reported that GameStop closed locations in America because "total game sales revenue (went) down." Multiple sources reported that GameStop planned to close 250 locations over the course of 2013.

The deal has yet to be approved. But, over the past few years, GameStop has been showing a downsizing trend.