Kenny McDowall admits Rangers were lucky to only ship four goals as the shambolic Light Blues sank 4-0 to Hibernian at Easter Road on Saturday.
The Ibrox side suffered their heaviest hammering at the hands of the Leith men since being beaten 5-0 back in January 1912.
It was another black day for the League One champions just a week after boss Ally McCoist was sent away on gardening leave.
But McDowall - now in charge for the remainder of the season - could do nothing to save ragged Rangers as he took over the reins for the first time.
And the interim boss said his side were just fortunate not to have been hit by an even bigger drubbing.
He said: "The only positive I can take at this moment is that we managed to keep it to four."
Rangers were a mess from start to finish. They allowed David Gray an age on the edge of the box to fire Hibs in front after seven minutes.
The back four were all over the place as Steve Simonsen wandered off his line for Jason Cummings' second.
And the visiting fans were streaming for the exit as Alan Stubbs' men put a shine on their win with two fine goals from Scott Robertson and skipper Liam Craig after the break.
The defeat leaves Rangers 15 points adrift of Hearts in the race for automatic promotion and McDowall apologised to the travelling Light Blues faithful.
He said: "It wasn't an ideal start - two down after 12 minutes and we failed to recover from that.
"For me personally, I'm disappointed for the supporters who came all this way and we've let them down. Normally you get a response when there is a change in management but that didn't happen for us.
"I can't take anything away from Hibs, they were the better team and wanted it more than us.
"It's very easy to say we should have responded differently when we went a goal down. We'll have a look but we are disappointed with all elements, especially the outcome.
"We've got to keep going and take it one game at a time, the next match is Dumbarton at home and we'll look to go and win that match and try and get back to winning ways quickly."