A company which was a key trading part of an accountancy firm is in liquidation following a dispute with its former landlord.
According to documents in the public domain a petition was presented by 231 SVS in the Court of Session against St Vincent Street Property Limited.
That business was previously known as Haines Watts Glasgow Limited and was based at 233 St Vincent Street in the city.
The change of name, to St Vincent Street Property Limited, was lodged at Companies House in November last year.
The annual return notes its accountants are Haines Watts at the address of 24 Blythswood Square, Glasgow.
Kenny Craig and Ken Pattullo, partners at Begbies Traynor, were appointed as joint interim liquidators of St Vincent Street Property Limited last month.
Mr Craig confirmed the appointment had followed a petition by the landlord of that business.
He added: "We are advised that the company has ceased trading with the business and assets having been sold the previous year.
"We are currently awaiting substantiating documentation confirming the company's history and financial position from the director, with a view to holding the statutory meeting of creditors."
The most recent abbreviated accounts for St Vincent Street Property Limited cover the 12 months to March 31, 2014 but were only filed in April this year.
They show it had net liabilities of more than £866,000. The accounts also note a retained loss at the business of more than £1.4 million.
The sole director noted on the most recent annual return, dated April 3, 2014, is accountant Richard Gibson. On his LinkedIn profile he describes himself as the managing director of Haines Watts in Glasgow and Northern Ireland.
The Haines Watts brand in Glasgow has continued to trade and it is not believed clients of the firm have been affected.
Companies House documents show a business called HW Glasgow (Holding) Limited was set up in October 2012 with Mr Gibson the sole shareholder. Its registered office address was changed from 233 St Vincent Street to 24 Blythswood Square, Glasgow, in March this year.
Documents lodged at Companies House show a winding up order was made against St Vincent Street Property on June 12 following approval by Lord Doherty.
One source said creditors will have lost money through the liquidation and suggested it was "a bit embarrassing" for an accountancy business to have gone through an insolvency process.
It is believed the amount owed to creditors may run into six figures.
In May 2012 Mr Gibson gave an interview to a trade publication outlining the unique structure that Haines Watts operates with each service line almost run like a separate business and all its regional offices having near autonomy from the head office.
According to Mr Gibson each business line director is in charge of the day-to-day running of their section and at the end of the financial year pays all the costs along with a fee to the head office. The director then takes a portion of the remaining profit.
Mr Gibson did not respond to requests for comment. Haines Watts did not respond to requests for comment.
David Gaffney, a chartered surveyor and builder who has been an executive at Bellway and Gladedale, is now executive chairman at Glasgow-based Ambassador Group. He is named as the only shareholder on the most recent annual return for 231 SVS.
Mr Gaffney did not respond to requests for comment.
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