Sir Tom Hunter warns of 'tight' year ahead

SCOTTISH retail tycoon Sir Tom Hunter has warned his businesses are braced for a tough year in the face of the double-hit of the VAT rise and increasing unemployment.

Hunter, who owns a stake in House of Fraser and who acquired the Cruise clothing business last week, said at the weekend: "All our businesses have forecast a very tight year. We're not really budgeting for much growth."