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GAME CEO stands down

Shepherd makes way for administrators.

Ian Shepherd, CEO of GAME, has resigned from his position as head of the company following the retailers slip into administration.

In an internal memo (published by MCV) Shepherd told employees: "I'm sad to confirm that no deal has been done, and so I have signed the necessary paperwork this morning to allow the appointment of administrators. The process has been finalised, and so Mike Jarvis from PwC takes charge immediately."

Shepherd is under no illusions about the size of the task facing PwC: "He will have a lot to do very quickly. Let's be clear, 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."