The futures of Cruise, Jones Bootmaker, Mountain Warehouse and Duchamp are secure according to sources close to investment firm Kcaj after its links to Iceland and the collapse of its Hardy Amies business prompted speculation about the health of its other investments.
Kcaj is backed by finance firm Milestone which is owned by two Icelandic nationals. The fund is managed by Arev.
A source close to Kcaj insisted the Milestone directors were "independently wealthy" and not affected by last week's collapse of the Icelandic banks.
Last week Hardy Amies fell into administration and the future of Ghost, another of Kcaj’s investments also looked uncertain, fuelling concerns about two of Kcaj's best known fashion investments, Cruise and Jones Bootmaker.
A source said: "Hardy Amies and Ghost were loss-making and the fund did not want to support those losses. This is not the case for other businesses, Cruise in particular is trading well."