GAME Group, which operates Game and Game Station shops in Bolton, Middlebook and Bury, has gone into administration.
The firm runs 1,300 stores globally of which 600 are in the UK.
Shops are remaining open and trading as usual.
Administrators from PricewaterhouseCoopers said Game had suffered from high costs and an ambitious international expansion.
The business, which has done well with X Box and PlayStation ranges, has been hit by competition from online retailers.
The rise of advanced mobile phones and new tablet computers has also hit the games market across the world.
Administrator Mike Jervis said: “Despite the challenges, we believe there is still room for a specialist game retailer in these countries including the UK.
We are hopeful that a going concern sale of the business is achievable.”
Game Group employs 385 staff at its headquarters Hampshire and another 5,000 in its UK stores.
A further 5,000 staff are employed outside the UK.
No one was available for comment.
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