GSASA Ltd is a wholly-owned subsidiary of the independent charitable Glasgow School of Art Student’s Association, which is unaffected by today’s announcement.

The Glasgow School of Art Students Association and GSASA Ltd are separate charitable and legal entities from The Glasgow School of Art.

GSASA Ltd reduced trading in November last year while options to put the business on a sustainable financial footing were explored.

An order has today been granted by Glasgow Sheriff Court to appoint Shona Campbell of MHA Henderson Loggie as the liquidator of the company. GSASA employs 1 full time and 2 part-time members of staff, and 29 people on zero-hours contracts.

Ms Campbell said: “Despite considerable efforts, the board has been unable to establish a sustainable future for the business against a backdrop of continued tough trading conditions.

“All staff were made redundant with immediate effect, although all casual staff members ceased work at the end of October last year. We will provide support for those who qualify to obtain their full entitlements.”

A spokesman for GSASA Limited said: “GSASA Limited has engaged with key stakeholders with the aim of putting the Company on a sustainable financial footing. Unfortunately, this engagement has proved unsuccessful and the Company’s board has been left with no option but to enter into compulsory liquidation with immediate effect.”

All enquiries regarding the company should be addressed to the provisional liquidator, Shona Campbell of MHA Henderson Loggie at insolvency@hlca.co.uk.