GAME, the struggling UK retailers – has lost their very own Commander Shephard today! (Yeah with an ‘h’) as the group officially goes into administration this morning.
GAME Group CEO Ian Shepherd has resigned from the company after it officially went into administration today and announced the appointment of PricewaterhouseCoopers as its administrator “after careful consideration and ceaseless interrogation of every possible alternative”.
“I’ve said a number of times that the administrator, once appointed, takes charge of the business,”
“Having two people try to do that is both confusing and a waste of money. With that in mind, I’ve agreed with Mike [Jarvis from PwC] that I will step down as CEO and the business immediately…”
“He will certainly make big changes, both to the store estate and in the office, but will be doing so with a view to creating a trading business that he can attract a buyer for.
“As I’ve said before, the business is worth more trading than not. It’s going to be a difficult week for everyone, but the best thing you can all do is support Mike and his team, and do your best to help create the most positive outcome you can.”
Shephard joined the GAME Group as CEO in June 2010 having previously spent four years at Vodafone and nine years at BSkyB. Reports over the weekend claimed a consortium of GAME’s lenders led by Royal Bank of Scotland has tabled a bid to buy the company out of administration.
Here’s to wondering what Shephard will take down next?