Deal that will make or break billionaire’s reputation

THE king is dead, long live the king.

Not long ago high street giant Sir Philip Green’s name would have been linked to this type of retail “rescue”.

But with superyacht-loving Green all at sea after the BHS scandal it’s younger rival Mike Ashley who is making waves.

Whether Mr Ashley lives up to the regal title, only time will tell.

At £90million, he bought House of Fraser for a princely sum but all hinges on his plans for the future.

Vowing to make it the “Harrods of the High Street” may sound grand but Sports Direct is already opening stores doing a good job of showcasing top makes. Yet department stores are different and keeping the big brands on board is vital.

At his side is Michael Murray, boyfriend of Mr Ashley’s daughter, Anna, who is now “head of elevation”.

Mr Ashley has his critics, but what he does with House of Fraser – and the treatment of his workers – could well prove to be his legacy.