Firms to open as usual on the day centre was to shut

SAVOY Centre businesses were expected to open as usual today as the fight to save the Glasgow mall from the axe went on.

Loading Comments
Businesses at the Savoy Centre will open as normal today
Businesses at the Savoy Centre will open as normal today

The retailers were told to pack up their shops, cafes and food outlets a week ago and leave the premises by today.

However, it is under-stood that talks were expected to continue into next week in a bid to keep the businesses open.

The traders had received the shock news through a letter from shopping centre operator InShops, which said it was going into liquidation.

The centre, in Sauchiehall Street, and the office block above it is owned by Belfast-based group PBN Properties.

An inside source said: "Discussions are ongoing and everyone is hopeful that there will be a positive outcome. Traders are opening as normal. Liquidators are due to be appointed during next week."

A meeting of cred-itors has been organ-ised by accountancy firm KPMG for Tuesday in Manchester.

There are more than 60 small businesses, including hardware shops, cafes and furniture stores in the centre, which has a weekly footfall of al-most 50,000 customers.

The plight of the traders in the market, known for providing affordable products, was raised in the Scottish Parliament.

Glasgow Kelvin SNP MSP, Sandra White, asked Deputy First Minister Nicola Sturgeon what support the Scottish Govern-ment could offer and asked if she would meet with the traders.

Ms Sturgeon said she was aware of the situation and saddened by the potential closure.

She said: "We have been in contact with KPMG who are in discussions with InShops and I have been asked to be kept informed."

In the letter received by the traders on January 10, InShops chief executive Frederic Bonnet said: "Traders and sub-tenants need to vacate the sites prior to the close of business on January 17."

He added that InShops Centre Limited and In-Shops Starters Limited had, "suffered from increas-ing losses and are now unable to generate sufficient cash to allow them to continue".

He wrote that the firm had been working with advisers to find a solution but despite this, the directors "have concluded that the business can no longer continue to trade".

Shopping develop-ments run by the company across the UK have been affected.


Local government

Commenting & Moderation

We moderate all comments on Evening Times on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.


Have you got a story?

Contact the news desk on 0141 302 6520 or email
Michelle McManus

Michelle McManus

Sussed in the City

I should have stayed in with Outlander, instead I went for a 5k walk and got pelted with hailstones




Cat’s Eyes on Glasgow

Cat’s Eyes on Glasgow

Cat Cubie’s job is to find and share with you the fabulous things the city has to offer, from gigs to gastro.

Games news:

Putting the world to rights

Gail's Gab

My bike ride into #hopeoverfear rally and Poldark get yer tap aff.

Michelle McManus

Michelle McManus

Columnist Michelle McManus is Sussed in the City, and loves to chat about anything and everything.