Sports Direct warns of ‘terminal’ House of Fraser problems and €674m tax bill

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Mike Ashley’s troubled company finally releases its results after a day of ‘shambles’

Mike Ashley’s Sports Direct has warned that its House of Fraser chain has “terminal” problems as the company revealed it had been hit with a bombshell €674m (£605m) tax bill from the Belgian authorities.

In an extraordinary statement issued 10 hours late – and after the stock exchange had closed – the maverick businessman laid bare the state of his retail empire.

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