Report: Game Group CEO quits amid company turmoil

Following news that troubled UK games retailer Game Group intended to appoint an administrator as it struggled with a lack of funds, the company has now chosen professional services firm PvC as its administrator. The CEO of Game Group, Ian Shepherd, has also reportedly left the company following today's news. The retailer has seen a difficult couple of months. In light of credit issues at the company, big-name publishers such as Electronic Arts revealed that they would not be supplying the chain with high-profile games at launch. It was then reported that if the company could not raise enough to pay rent and wage bills this month, it would be forced to enter administration. It did not manage to achieve its goal, and was forced to enter administration last week. "This decision is taken after careful consideration and ceaseless interrogation of every possible alternative," the company said in a statement today. "The Board would like to thank the teams of Game and Gamestation colleagues around the world for their exemplary dedication, passion and professionalism." Shepherd stepped down from the company this morning, according to UK trade website MCV, after telling staff in an internal memo, "I have fought, and all of the management team here have fought with every ounce of energy to avoid arriving at this point. That we haven't succeeded makes me angry and sad in equal measure. As your CEO, this is my responsibility and I don't shirk from that."