The people behind the Beresford Lounge project announced on Facebook that the start-up had not worked, apologising to those ‘who supported the dream of making Beresford Lounge a reality’.
Work on creating the bar, restaurant and events space within the former Beresford hotel started in 2021.
However, the team behind the project posted on social media: “We’ve tried everything we could to secure the resources needed for opening but sadly failed to do so.
“We have no one/nothing to blame but ourselves. Despite making a lot of mistakes we’ve continually remained overly optimistic about our prospects of opening, however regrettably we have run out of time.”
The team said that someone with more resources and experience ‘could have made it work’.
The building, opened in 1938 to coincide with the Empire Exhibition held in Glasgow, is category B-listed and has become a city centre landmark.