Epic Shutdown: GameStop Drops Big News with Massive Store Closures and A $35 Billion CEO Payday!

Gamers, brace yourselves for an earthquake in the world of GameStop! As 2026 kicks off, the legendary gaming retailer is shutting down hundreds of stores, all while their CEO, Ryan Cohen, is set for an outrageous $35 billion in performance-based stock options. Grab your controllers because this is going to be one wild ride!

Whispers of impending store closures ripped through the gaming community like wildfire as soon as the new year began. Some eagle-eyed shoppers caught sight of signs at their beloved GameStop locations announcing shutdowns and a 20% trade-in bonus as a consolation prize. Brooklyn Games & Arcade tweeted out from Bensonhurst with a heartfelt goodbye to their local crew, urging people to swing by before the doors lock for good on January 8th.

Scattered reports are painting a vivid picture of the closure chaos. One Reddit user spotted a poignant farewell sign, stating, “This store is closed effective 1/8/26. Thank you for being a loyal GameStop customer.”

The sudden swarm of store shutdowns left customers scratching their heads. With a jaw-dropping 390 closures already confirmed by a trusty GameStop tracking blog and another 10 possibly on the brink, the number stretches to 400 just days into the year. In an era where GameStop's footprint has been shrinking, it's another chapter in the saga of consolidation, marking over 590 closures in 2024 alone.

Meanwhile, CEO Ryan Cohen has his eyes on an electrifying target: a whopping $35 billion payday. The board states that the company needs to rocket to a market capitalization of $100 billion and secure $10 billion in financial performance for Cohen to hit the jackpot. Though the market cap hovers around $9.5 billion now, the potential for "extraordinary growth" has players on the edge of their seats.

In recent years, GameStop has been on a quest for wild innovations. After a swift exit from the crypto scene and closing its NFT marketplace in a flash, it's rolling out quirky events like the Trade Anything Day. From bizarre to bold, GameStop is pushing the envelope to find a winning strategy.

Oh, and for our Kiwi readers, brace yourselves! Reports suggest GameStop's EB Games branch is plotting to close down its New Zealand locations. The gaming landscape keeps shifting, and it's one landslide after another! Stay tuned, gamers, because in this saga, anything can happen!

Photo by Jeffrey Greenberg/Universal Images Group via Getty Images.

Michael Cripe, a freelance gaming aficionado known for stellar articles on IGN, The Pitch, The Escapist, and OnlySP, brings you the latest deets. Check him out on Bluesky for all things gaming!