Eight days and 10 hours later than planned, Sports Direct finally revealed how things have been going at House of Fraser since its takeover last year.
The bad news for fans of the store that Mike Ashley vowed to turn into the "Harrods of the High Street" is that things are far from good.
"We were serious with our investment and strategy," chief executive Ashley told investors as part of the Sports Direct final results.
"However, as we have continued to look under the bonnet as we integrate the business, we have found that the problems are nothing short of terminal in nature."
Under-investment, excessive outsourcing and selling brands to their Chinese parent shortly before administration were just some of the issues the store faced.
Since taking charge, Sports Direct has been forced to close five of the 59 shops taken over as it tries to address these problems - the worry is now that more will follow.
"We have done as much as we could realistically do to save as many jobs and stores as possible, and indeed we appreciate many landlords and local authorities have worked hand in hand with us as we tried to do this," Ashley said.
"However, there are still a number of stores which are currently paying zero rent and that are still unprofitable and unfortunately this is not sustainable.
"We are continuing to review the longer-term portfolio and would expect the number of retained stores to reduce in the next 12 months."
Just how bad were things?
"On a scale out of 5, with 1 being very bad and 5 being very good, House of Fraser is a 1," Ashely said.
But he hasn't given up yet, even if he admits buying the store might have been the wrong move.
"We are trying very hard to turn the business around this will not be quick and it will not be easy.
"Even though we do believe there could be a bright future for House of Fraser, and indeed have publicised our Frasers vision which we are very excited about, if we had the gift of hindsight we might have made a different decision in August 2018."
