300 JOBS SAVED AS SIR TOM SNAPS UP TROU­BLED CRUISE

The Herald Business - - Themonthinheadlines -

Dec 31

En­tre­pre­neur SirTom Hunter has snapped up trou­bled high-end fash­ion chain Cruise from ad­min­is­tra­tors for up to £5m amid strong hints he could use the busi­ness to sup­port his phil­an­thropic work. The move se­cures 300 jobs, in­clud­ing around 190 in Scot­land, and 10 out­lets, al­though stores in Liv­ingston and Dundee were closed by ad­min­is­tra­tors and 18 mem­ber s of staff made re­dun­dant. Buy­ing for the chain, which stocks brands such as Hugo Boss and Chris­tian Louboutin, will in fu­ture be han­dled by staff at fel­low top-end re­tailer Van Mildert in an in­for­mal joint ven­ture. Sir Tom is un­der­stood to have paid be­tween £4m and £5m for Cruise.

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