U.K. retailer GAME has confirmed that it will be closing its flagship store in Oxford Street, London, but it’s not all doom and gloom.

The company confirmed the news to GameIndustry.biz, but insisted that the move was only down to the expiration of the lease on the premises. It was also quick to deny rumors that it was going through another round of store closures. “We can confirm that we will be closing our Oxford Street store on 8th September 2012 due to the expiration of the lease,” GAME said in a statement.

“Our West End customers can visit our concession in Hamleys on Regent Street, our flagship store in Westfield Stratford, or our websites at http://www.game.co.uk or http://www.gamestation.co.uk. We also have stores in Hammersmith, Surrey Quays, and Westfield White City.”

“We’re actively looking at other retail options in the West End, and the Oxford Street team have been temporarily relocated to other stores across London and the South East.”

While it is one of GAME’s most famous stores, it’s also one of several in the center of London, so the loss to customers shouldn’t be too great. It also appears that all the store’s current staff will retain their jobs, which is also good news.

Do you still shop at GAME?