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

Sports Direct finally releases its results after a day of ‘shambles’

Mike Ashley’s Sports Direct expressed regret at buying a “terminal” House of Fraser and could not predict profits for the year ahead as it revealed it had been landed this week with a surprise €674m tax bill from the Belgian authorities.

The retail group said its finance director John Kempster would be stepping down in September, the third senior departure in recent weeks, after a shambolic day in which it postponed publication of its already delayed annual results several times.

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