TALKS are underway with a potential buyer for the Virgin Hotel in Glasgow after it shut over financial problems.
Administrators now have a property investment and development company lined up to possibly take over the hotel, which closed suddenly in December 2023, a meeting heard today.
The venue on the banks of the river on Clyde Street was granted an extension of its alcohol provisional premises licence for a year at the city’s licensing board.
He said an Ireland-based property firm are in talks over the possible purchase.
About 130 jobs were lost when the 240 bedroom hotel closed just four months after opening. Its owner Lloyds Developments Limited – which Virgin Hotels has a management contract with – was put into administration by its lenders on 1 December.
The directors of V Hotel Glasgow Limited – the employer and operating company in respect of the hotel – were advised to place it into liquidation.
Councillors sitting on the licensing board granted the request to further extend the provisional premises licence.
