Obviously, I feel for the ordinary workers losing jobs because of this. On the other hand, I have been boycotting GAME for quite some time, over their increasingly desperate and vicious attempts to strongarm publishers in order to prevent them selling games on Steam in a timely manner, if at all.
GAME cost more, gave a worse service, the meatspace shops were awful, and the mail order was slow and crummy. Clinging to a dead business model while bullying people was never going to end well.
On the other hand, please, spare a thought for the normal employees whose fault this clearly isn't, it's an especially harsh economic time to be facing something like this.