GAME Boss Ian Shepherd Resigns, Stores Close, PwC Appointed Administrators

[drop2]GAME CEO Ian Shepherd has stepped down, according to a memo this morning, with PricewaterhouseCoopers the company administrators.

This follows his email to staff late last week.

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“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, PwC] that I will step down as CEO and the business immediately – this is my final email to you all.”

Shepherd also confirms that no buyer has been found, and that administrators are now in control. “I have signed the necessary paperwork this morning to allow the appointment of administrators,” he added, with some finality.

“Let’s be clear,” he said, “[Mike] 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.”

Our thoughts, once again, go out to staff.

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42 Comments

  1. He looks like a self-important twat in that photo in my personal opinion. Such a smug grin like, ‘I’m richer than you are are, haha!’.
    Sorry, dunno what’s come across me this morning! Probably lack of sleep! :D

    • Kick a man whilst he’s down why don’t you.

      • he was being paid 330k a year, i dont feel sorry for him, its the minimum wage staff that wont get there last pay cheque i feel for, funny how they always wait till the end of the month…

      • kick a man while he is down, he probably has enough money to cope with losing his job I dare say.

        Oh well, as sad as it is, I don’t feel sorry for him at all. If these people used their head, they would of sorted the company out years ago.

      • @iiekka

        Seriously, the staff could end up not getting paid? If that’s correct you really need to look into your laws.

    • £330k a years sounds like a lot and it is. But it’s not the point.
      People live to their means, from minimum wage employees to £330k a year directors.
      He may be more comfortable than most others, but no doubt he’s thinking of his own fire sale right now.

      His chances for getting another well paid job are slim at best, after all he’s the one responsible for running a company to destruction, and that will not look good on his CV.

      Sure I feel sorry for the staff MORE than him, but he’s also going to suffer too.

      • i bet he wont have to worried about loosing his house, im sure most of the other 6k might have to worry about that

      • Depends on the size of his mortgage tbh, it’s not likely he lives in a terraced house in Newcastle or summat. Asides from that,I don’t see the value to be gained or point in even saying a man looks like a self important twat in a posed photo. The camera always lies for a start.

        I’m not defending his policies and decisions as CEO of GAME, but it doesn’t hurt to show a little humanity.

    • I think you’re being a little unfair here. My flatmate who works (worked) for GAME said that Ian Shepard was brought in pretty much after the damage was already done to GAME and by the looks of it, he just had too big of a task to be able to save the chain.

  2. You would think that on £330k per annum that he’d be able to afford to go to the barbers rather than use clippers at home set on grade 2.

    • haha good call

    • That’s no grade 2! More like 5 or 6!

      • Grade 3 at a push. What ever grade it is, he has an attractive smile and lovely deep dark eyes that I could get lost in…

      • No way! I have a 3 on the back and sides when I go to the hairdressers and that is way longer!

        I also have an attractive smile and lovely deep dark eyes that you could get lost in, interested?

      • I’d say it’s a grade 2 right on the sides and then a 5 on top lol

      • Oh come on guys, grade 2 at the sides and 3 at most on the top. You’re being deceived here by the hair colour. The darker hair on top makes it look thicker and longer than it actually is and the lighter, some might say, grey, hair at the sides makes the hair look decidedly thinner and shorter.
        Besides, I reckon none of you have actually checked out his hair, you’re all gazing longingly into his dark ‘come to bed’ eyes.

  3. Went into Luton town this morning, the Gamestation was shut with whitewashed windows – I peeped in a gap and saw zero stock and shelves being taken down. Not sure if they were there on the weekend. The Game in the main Mall was still trading as normal with no discounts any better than a week or two ago. I asked the manager how things were, he said ‘about what?’ followed by a brick wall, so if there is a fire sale, it’s not come in as yet..

    I then went to CEX and picked up three preowned titles, two Game didn’t have and one at a better price.

    To reflect the general sentiment here, the top management have done a poor job with Game, it used to be amazing in the very early days, but as it grew it got very formulaic. Gamestation was much better here in Luton, the staff were excellent, although the prices were all over the place. Sorry for the staff of course.

    • Got to agree, they’re totally responsible for their own downfall. They’re such an absolute rip off it’s beyond a joke sometimes. I’ve often seen pre-owned copies of a game for a couple of quid more than the game is brand-new. That’s just dumb.
      On top of that, they never have any bargains that are worth my while. Everyone likes a bargain, right? Well they never have any. Sometimes on old stock or old pre-owned, but new games start at a minimum of £40 every single time. When you can go elsewhere to get it cheaper, you will.
      Non-competitive pricing and an obsession with pre-owned is what’s cost them their business.

      • Game were responsible with me simply not wanting to buy games in the High Street. They were one of the few places where staff might know more about games than the fruit & veg section in Asda but sadly, they were trained to be a bit twunty so sod that.

        Online all of the way (for me) for years and years.

        My genuine sympathies to all staff looking for work.

    • These are my locals. Gamestation was one of the previously announced closures. The staff knew Saturday was their last day a few weeks ago at least. Sad news for sure, they were great guys. Wishing them all the best now.

  4. Another Shepherd with a end that people will not like :(

    • Somehow i don’t think this guys aim was to save the universe though.

      & if it was, i don’t think he’s succeeding!

    • “I should go…”

  5. Wait, I’m confused. Does this mean Game is dead, or that after administrative-y things that they might be able to continue trading?

    • The administrators will make that decision. Either cease to trade, or find a buyer. They are currently continuing to trade and attempting to find a buyer, though that may change any moment.

    • If there is one, the buyer will cherry pick the stores they want to retain, there is no need for the buyer to take all stores on.

      I’d say the administrator will not be interested in keeping any loss making stores open in the interim, which would probably give us a good idea of what stores have zero chance of being re-opened should a buyer come in.

      hypothetically, why would a buyer want 600 stores, 300 of which may lose money, when they can just have the 300 which make money and no rent or staffing obligations with the loss making ones.

      • The only way a buyer would take on any loss making stores would be if it was the only way to secure a deal. Only way I see that happening is if two interested buyers turn up, or one that has an idea about turning all or some of the locations into something different.

  6. Mate of mine who works in Gamestation in Milton Keynes has just been phoned and told the shop is closing down today. Poor communication. 

  7. Just been watching it on bbc news, they said Game stated this all came about due to, “online only software retailers.”
    6,000 uk employees at risk, harsh times.

  8. The Gamestation website now has a “We’ll be right back!” page on it. I don’t think they will. :-(

  9. 1 of the Belfast City centre Game stores has already closed!!!

    Not good for consumer choice on the High Street!!

    • which one closed? Our Gamestops closed a couple of months back too, so if nobody want to buy out our Game stores, we’ll just have HMV!

      • this could save hmv if customers shift to them, zavvi woolworths now game all gone surely one of these companys must be able to survive on the high street?

      • The one in Castle Court has gone. The high street store next to HMV was still open at lunch. Only 2 staff though. To be honest though I prob wouldn’t turn up for work if there is a good chance I wouldn’t get paid

      • From RTE news… “The five stores in Northern Ireland that will remain open are in Belfast (Donegall Arcade and the Abbey Centre), Newtownards, Craigavon and Derry.”

        http://www.rte.ie/news/2012/0326/game.html

  10. I wonder what that guy who was in line for the Ps Vita and was promised a year of free ps vita games going do now that GAME going go burst

      • So what that basically says is it confirms that they are in administration & that they will continue to trade… As CEX (minus the consoles, DVD’s & CD’s)!

        Bad times.

      • MAJOR OUCH!
        “5.Gift cards: We have also had to suspend GAME gift cards. The value on these cards cannot be redeemed. If this changes, we will let you know. We apologise for the inconvenience this causes.”

      • Yep, I hope that little Tommy didn’t get £100 in Game vouchers for crimbo & was waiting for the next CoD!

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