It might not do Jim any harm to consider an assistant manager position somewhere if anything is available. Stay in the game, keep learning, but not in the full glare.
I think he has many of the attributes to be successful (wtf do I know, right enough), but always struck me as a bit stubborn and slow to recognise when things weren't working out as planned. Perhaps a bit naive? There is no substitute for experience, but another front line position might be too much of a gamble for him just now.