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Gameplay axes remaining staff

The beleaguered e-tailer completes the sale of its Spanish operations to Electronics Boutique

Troubled gaming e-tailer Gameplay is rapidly approaching "game over" with the announcement on Friday that it will lay off its remaining staff while continuing its efforts to sell off its remaining assets.

The company said it has completed the £1.4m sale of its Spanish boxed games and online gaming business to Electronics Boutique. Bill Pike, the director for the boxed games division, will leave the company.

Gameplay was started in 1995 as a computer games delivery service by Dylan Wilk, then a schoolboy, and its fortunes soared when dot-com fever gripped Britain two years ago.

But Gameplay has suffered along with the dot-com market. Last month the company revealed soaring losses for the second half of last year, up to £54.4m compared with £10.4m the year before, and said it was looking to sell off all or part of the company. In February Gameplay laid off 275 staff.

The company said a small team will remain on board to continue searching for buyers.

Gameplay shares fell 0.75p in mid-morning trading to 3.25p.

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