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GameStop Refuses to Pay $30 Million Consulting Bill | GME vs Boston Consulting Group
Apr 13, 2022

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Boston Consulting Group has filed a suit against GameStop in response to the video game retailer turned meme stock refusing to pay a estimated $30 million consulting bill. BCG alleges that GameStop will not provide the information and data needed for BCG to calculate the true amount owed.

As someone who works in consulting, BCG's fees based on projected profit improvement structure here seems pretty bizarre. I don't think it's totally out of line for GameStop leadership to question this insane bill and shut out BCG. On the other side of this, I'm surprised to BCG go after this so aggressively and add to the bad press we've seen over the past couple years for large consulting firms.

00:00 - GameStop refuses to pay Boston Consulting Group 00:41 - How is business for GameStop? 01:27 - BCG fees based on projected profit improvement 02:41 - Who is behind this crazy deal? 03:27 - BCG deciding to go public 04:12 - GameStop's response to BCG lawsuit 04:51 - Is this worth the negative press?

#GameStop #BCG #GME β€”

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  • There is so much nonsense there. $30 million for consulting? I understand that price tag IF Gamestop implemented the consultant's plans and hit huge profits, i.e. $30 million for consulting got them $130 million in profit from new streams that the consulting company worked on. That would still be $100 million in their pocket. But it's hard to see how any consulting firm can ask for that much money.

    I suppose at that point it's like paying a CEO a large sum of money to produce an even larger sum of profit, but instead of paying a CEO to make these decisions, they hire a consulting firm? Are amounts this big "normal" for the industry GameStop is in?

  • Wow! Retail investors (Main Street) did the work & here comes the politicians & Wall Street.

  • Sounds like the Biden Tax Plan to tax unrealized gains. I would tell them to DETAIL And JUSTIFY every Value Added item they are billing on. I would place 10% in Escrow and tell them to pound sand until they produce the Detail and Justification required. After that? #SYIC

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  • Vengeance of the large investment funds holding short positions, after individual internet traders profited at their expense.

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