Glasgow's Radisson Blu Hotel falls into administration

Mon, 21 Nov 2011

The high-profile Radisson Blu hotel in Glasgow has been put up for sale by administrators, just one day after it hosted the Scottish Bafta awards.

The luxury hotel was placed into the hands of administrators from RSM Tenon last week, after its parent company, S1 Argyle Street Limited, succumbed to financial pressures and was declared insolvent.

The hotel will remain trading as normal while a deal with a prospective buyer is sought. RSM's Tom MacLennan said that a potential bidder has already been identified and they are looking at working out a deal with the company.

"The preferred bidder is, at this stage, undisclosed but it is proposed all staff positions will be secure and will transfer across to the new business," MacLennan explained. "We wish to reassure all staff and customers our intention is to continue business as usual and focus our efforts on completing a rapid sale of the hotel."

Just last weekend the hotel hosted a slew of high-profile stars, including Robbie Coltrane, Peter Mullan and Peter Capaldi, when they attended the glittering Bafta Scotland television and film awards. All forward bookings for the Christmas period are to be honoured and it is hoped that the sale will cause little to no disruption.

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