Dundee Cruise fashion store axed despite Sir Tom Hunter deal

Nine jobs have been lost with the closure of the Cruise store in Dundee’s Overgate.

The fashion chain, which had a dozen outlets across the country, was placed into administration on Wednesday but was bought within hours by businessman Sir Tom Hunter.

However, the Dundee and Livingston stores are not being retained and staff were made redundant by joint administrators John Reid and Lee Manning of Deloitte on Friday.

The Cruise brand has had a presence in Scotland for more than 30 years and it also has stores in Northern Ireland and the Midlands.

It found itself in financial difficulty following the downturn in the retail sector and an internal reorganisation in May 2009.

A lengthy search for a buyer for the business as an ongoing concern proved fruitless and the firm was placed into administration.

Mr Reid, head of Deloitte Restructuring in Scotland, said, “We have concluded an immediate sale of the business and assets for 10 of the Cruise stores to a new venture led by Sir Tom Hunter.

“This sale not only secures the future of the brand in the UK but also preserves over 300 jobs.”