Fleetwood Town have parted company with manager Graham Alexander.
The former Burnley and Preston defender was appointed at Highbury following the sacking of Micky Mellon in December 2012.
He guided Town to promotion through the League Two play-offs in 2014.
The club achieved their highest ever finish last season, ending the campaign in 10th place in League One.
But a difficult summer followed, Alexander tasked with overseeing a significant rebuild under tight financial constraints.
The manager was forced to part with many of his experienced hands, forced to call upon young, untested talent.
The start of the season gave cause for concern but victories over Bury and Colchester, Town scoring four goals in each, raised hopes at Highbury.
But Town haven’t won since thrashing Colchester - their last three all ending in defeat.
Fleetwood Town Chairman Andy Pilley said: “It is an extremely unpleasant part of being Chairman having to make such a decision, however ultimately, for a number of reasons; I felt this was in the best interests of the Club.
“I would like to place on record my personal thanks for the success Graham brought us with the promotion to League One, his supreme professionalism and for all the hard work he invested over his time here at Fleetwood, and wish him all the best for the future.”
It seems last night’s 5-1 defeat at Gillingham was the final straw for Fleetwood who now begin the search for a new manager.
With a reduced playing budget Highbury isn’t the prospect it was 12 months ago but there shouldn’t be any shortage of applicants for the position with a number of experienced managers, including former Rotherham boss Steve Evans, out of work.
Other potential names in the frame include ex Peterborough and Preston boss Darren Ferguson, Neil Redfearn, formerly of Leeds United and Nigel Clough, who until recently was in charge at Sheffield United.
Whoever takes on the role will be just Town’s third manager since promotion to The Football League.