GSPC goes into liquidation after losses continue

Glasgow Solicitors Property Centre has gone into liquidation, after failing to stem continuing trading losses.

The GSPC website now redirects all visitors to its Edinburgh counterpart, which has taken over marketing of all properties registered with GSPC. Nine staff have lost their jobs through the closure.

GSPC, which has traded since 1994, was kept going by loans from Edinburgh Solicitors Property Centre two years ago but has now come to regard its position as "unsustainable".

Based in a city which has traditionally seen more property sales handled by non-solicitor estate agents than other parts of Scotland, the business has also faced increasing competition from online-only services.

Joint provisional liquidator Blair Nimmo of KPMG told the Herald: "Unfortunately, and notwithstanding additional investment, the loss of key members has led to the cessation of trade and a number of redundancies."

A spokesperson for ESPC commented: "The Edinburgh and Glasgow property markets are quite separate and distinct and it is a reflection of the tightening Glasgow market that GSPC has had to close."