I think it makes sense, personally. They say they had a store in Birmingham last year? Yeah, well, I live by there and go to Birmingham fairly often, and I never saw a Gamestop anywhere (at least not in the city centre). Game, Gamestation, CEX and HMV, yes. Plenty. But no Gamestop.
Thing is, here in the UK, Gamestop have almost no presence anyway, and they have major competition from the four stores I just mentioned. All big name companies, and very successful (not to mention relatively cheap compared to Gamestop). Two specialty game stores, one pre-owned specialty store, and HMV, which is big enough to sell CDs, DVDs and even clothing too (hence the reason I go there more than anywhere else). Adding Gamestop to the equation would only work if the firm had a big brand presence and the money and resources to put into a massive advertising campaign to hit the ground running, none of which has surfaced. Thus, it doesn't surprise me in the least that the stores already open here have been closed, or will be closed soon.