Feeds

Game CEO steps down

Insert coin to continue

Secure remote control for conventional and virtual desktops

High street retailer Game formally entered administration this morning. The first casualty of the move: CEO Ian Shepherd resigned from his role.

“I’ve said a number of times that the administrator, once appointed, take charge of the business,” said Shepherd in memo to staff.

“Having two people try to do that is both confusing and a waste of money. With that in mind, I’ve agreed with Mike [Jervis, co-administrator] that I will step down as CEO... immediately.”

Game shopGame

Shepherd assured staff that Jarvis and his co-administrator, Stuart Maddison, both of PWC, will make big changes across the board in a bid to create a trading business that can attract a buyer.

"The group has faced serious cashflow and profit issues over the recent past," said Jarvis. "It also has suffered from high fixed costs, an ambitious international roll-out and fluctuating working capital requirements."

But despite these problems, Jarvis was optimistic that there remains room on Britain's high streets and beyond for a games-specific retailer.

"As a result," he said, "we are hopeful that a going concern sale of the business is achievable."

The saga continues. Perhaps it isn't Game over, just yet. ®

The essential guide to IT transformation

More from The Register

next story
Apple's iWatch? They cannae do it ... they don't have the POWER
Analyst predicts fanbois will have to wait until next year
The agony and ecstasy of SteamOS: WHERE ARE MY GAMES?
And yes it does need a fat HDD (or SSD, it's cool with either)
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Apple to build WORLD'S BIGGEST iStore in Dubai
It's not the size of your shiny-shiny...
Just in case? Unverified 'supersize me' iPhone 6 pics in sneak leak peek
Is bigger necessarily better for the fruity firm's flagship phone?
Steve Jobs had BETTER BALLS than Atari, says Apple mouse designer
Xerox? Pff, not even in the same league as His Jobsiness
Apple analyst: fruity firm set to shift 75 million iPhones
We'll have some of whatever he's having please
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
BYOD's dark side: Data protection
An endpoint data protection solution that adds value to the user and the organization so it can protect itself from data loss as well as leverage corporate data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?