Sports Direct owner Mike Ashley has revealed House of Fraser, bought by the businessman a year ago, may be in terminal decline with more stores needing to close.
The Carlisle branch of department store giant House of Fraser, bought by Mr Ashley a year ago for £90 million, had escaped closure after doubts were cast over its continued presence in the city following the firm's financial struggles.
However those doubts may be returning, with retail boss Mr Ashley suggesting it may not be possible to save the ailing national chain.
Commenting today on the House of Fraser's financial situation, Mr Ashley said: "The previous chairman, Frank Slevin exemplified City greed and excess, and as House of Fraser's future became terminal with people losing their jobs and with more to follow, Mr Slevin thought it suitable to retain these extravagances not appropriate to a business in its death spiral."
He added that more stores may need to close their doors as "the problems are nothing short of terminal in nature".
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