Glasgow’s Virgin Hotel Nears Revival as Irish Firm Eyes Takeover 🔑

Almost a year following the shock closure of Glasgow’s Virgin Hotel, it looks like the building may be getting taken over. <br /><br />Administrators have a property investment and development company lined up to take over the premise which is situated on the banks of Clyde Street.<br /><br />Around 130 jobs were lost when the 240-room hotel closed in December 2023 just four months after its opening when its owners were advised to put it into liquidation. <br /><br />A lawyer involved in recent meetings said the new firm is Ireland-based and exclaimed it is positive news that things are moving. <br /><br />The hotel was owned by Lloyds Developments Limited which Virgin Hotels had a management contract with. <br /><br />The proposed acquisition aims to breed into the ongoing efforts to repurpose and revive hospitality assets across the country.<br /><br />Negotiations are continuing.<br /><br />This news comes not long after a petition was launched by musicians who played in the hotel, pleading with the Virgin Group for payments they still haven’t received. <br /><br />The building has been empty for almost a year now as administrators have sought a takeover.