UK national newspaper The Daily Express has said that former CEO Ian Shepherd should not be blamed for GAME’s current predicament.
Shepherd resigned from his role of CEO and left the company yesterday after The GAME Group entered administration and PwC were put in charge.
When Ian Shepherd took charge of GAME Group, the self-confessed fan of the Modern Warfare shoot ’em series knew he had a battle on his hands,” the paper writes. Back in 2010 he cannot have foreseen just how tough it was going to be.
Shepherd should not shoulder the blame for the firm’s near collapse.
From the start he found himself under siege, saddled with heavy debts and too many shops and a growing bombardment from the internet.He knew he had to shift more business to the web but, armed with Game’s feeble finances, he simply ran out of time.”
The paper adds that it is confident GAME will survive its current administration and emerge as a smaller, more tightly-focused retailer.
It adds: GAME is wounded, though not mortally, and a slimmed-down version looks certain to survive though that may be little consolation to the hundreds of people who will lose their jobs or shareholders who have seen their investment wiped out.