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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/sir-tom-snaps-up-fashion-chain.jpg"><img class="alignnone size-full" title="Entrepreneur Sir Tom Hunter has bought fashion chain Cruise, which went into administration earlier this month" src="http://londonglossy.com/wp-content/uploads/2010/12/min-sir-tom-snaps-up-fashion-chain.jpg" alt="Entrepreneur Sir Tom Hunter has bought fashion chain Cruise, which went into administration earlier this month"/></a></p>
<p>Entrepreneur Sir Tom Hunter has bought fashion chain Cruise, which went into administration earlier this month.</p>
<p>He has acquired the ten-store Cruise group from administrators Deloitte for an undisclosed sum and will continue to trade from all the shops.</p>
<p>The chain was bought by business restructuring firm Hilco from HBOS earlier this month, but then went into administration and was bought by Sir Tom on Wednesday.</p>
<p>His spokesman said the move would save around 300 jobs.</p>
<p>Sir Tom, who founded the Sports Division chain, also announced the formation of a joint venture with fashion retailer Van Mildert to &#8220;maximise opportunities in the luxury fashion industry&#8221;.</p>
<p>He said: &#8220;Cruise is an iconic brand that requires investment for growth, it&#8217;s a business I&#8217;m delighted to invest in.</p>
<p>&#8220;Combining this acquisition with a partnership with Van Mildert, an exceptional fashion business in my view, offers a strong platform from which to build both businesses.&#8221;</p>
<p>As part of the Van Mildert partnership, the team there will run buying for Cruise.</p>
<p>Sir Tom is now undertaking a strategic review of the Cruise business in order to firm up a growth plan.</p>
<p>Van Mildert director Eric Williams said: &#8220;It is flattering to have caught the attention of Sir Tom and his team and I am sure that this collaboration will inevitably lead to exciting new ideas about how we continue to take both brands forward.&#8221;</p>
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