John Sheridan's employment as first-team manager has today been terminated.
Following the season's poor performances that have led to the club currently sitting in 22nd position and with only 17 games to play, the decision was taken with the best interests of the club in mind.
Following the recent departure of Charlie Williamson, assistant-manager Glynn Snodin and goalkeeping coach Mark Crossley will also leave the club.
The club would like to place on record its thanks to John and his backroom staff and wish them all the best for the future.
John Pemberton has been named as caretaker manager and will take over from Friday morning ahead of this weekend’s home fixture against Sutton United.
Company secretary Ashley Carson said: "The decision was taken after full discussion last night with majority shareholder Dave Allen and also with Mike Goodwin, chairman of the Community Trust, who is heading up the potential takeover of the club.
"Whilst I think we all knew the time was right to make this change, it is important that I work very closely with Mike Goodwin, as ultimately we look forward to a change of ownership very soon.
"There will be a joint plan going forward so that any decisions taken regarding the appointment of a new manager will be made in full agreement with the Community Trust."
A statement will be made after the weekend regarding the plans to appoint a new manager.