Virgin’s Glasgow hotel has shut its doors merely four months after its grand opening, with more than 100 workers set to lose their jobs.
Employees at the Virgin Hotel on Clyde Street received the news following a meeting with the company's CEO on Tuesday.
This development follows the recent appointment of administrators by the building's owner, Lloyds Development Limited.
The closure has resulted in the termination of about 130 jobs.
Launched in August, the 240-room hotel, situated by the River Clyde, aimed to provide guests with a taste of Glasgow's “rich cultural heritage and warm hospitality".
However, the property's owner, Lloyds Developments, with which Virgin Hotels has a management contract, faced administration by its lenders on 1 December.
Consequently, the directors of V Hotel Glasgow Limited, the hotel's employer and operating company, were advised to initiate the liquidation process.
It follows a history of notable Richard Branson failures including Virgin Cola, lingerie brand Virginware and most recently Virgin Orbit, a satellite company.