In a statement to Joystiq, the company blamed an "unprecedented consumer/retail environment" for the closures.

While the doomed stores have been reportedly been directed to redistribute all systems and many recently-released games to surviving Game Crazy outlets, the rest of the stock will be put up for sale in the following manner:

• 10/3-10/11: 30% off everything in the store
• 10/12-10/18: 50% off everything in the store
• 10/19-Closing: 80% off everything in the store