In a note to employees seen by RNZ, managing director Shane Stockwell said: "This proposal is not final, and no decision will be made until we have completed a full consultation process in good faith with affected team members.
"This proposal includes the closure of all remaining EB Games New Zealand stores and the New Zealand Distribution Centre.
"If the proposal were to proceed, it would mean that all roles within EB Games New Zealand would be disestablished."
EB Games is an Australian-based video game and pop culture merchandise retailer, owned by GameStop since 2005.
There are now 38 stores in New Zealand, according to GameStop's latest annual report, and 336 in Australia. This includes stores in Riccarton, Northlands, The Palms and Hornby.
It's uncertain how many jobs would be lost if the proposal went through and EB Games closed all its New Zealand stores.
The chain has been facing stress for some time, including closures of stores in both Australia and New Zealand.
At the beginning of last year, the company proposed to eliminate all its New Zealand administrative staff, The Post reported.
Stockwell described the New Zealand business as no longer commercially viable, with a "multi-million dollar loss during the 2024 fiscal year".
He said the retail market continued to be sluggish and the company was not confident its performance would improve.
"We are saddened to be in this position having already made significant and repeated efforts to turn the business around," Stockwell wrote.
The company said there may be opportunities for New Zealand employees to relocate and take up work in the Australian EB Games operations.
Employees have been asked to submit feedback on the closure proposal by January 12.
