Sports Direct have admitted purchasing House of Fraser may have turned out to be a huge mistake.
It appears that Mike Ashley is, ironically enough, an enormous mug.
It looks like Mike’s decision to buy the department store is making him look like one of the gigantic mugs for which he’s famous.
In hindsight, the sports chain have realised that the problems at House of Fraser are nothing short of terminal.
But even by implementing the tried and tested Sports Direct strategy of putting all the workers on zero hours contracts, making them all wear unflattering tracksuits and forcing them to be miserable to customers, doesn’t seem to have made House of Fraser any more profitable.
Its results revealed a €674m (£605m) tax bill from Belgium authorities.
Even the sponsorship deal that changed the name of Newcastle United’s stadium to the “House of Fraser within Sports Direct Stadium@St James Park” doesn’t seem to have assisted in any way whatsoever.
The revelations means Mr Ashley is available to buy for £1.99.