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House of Sher goes up for sale at £1m

CASH and carry firm the House of Sher is on the market for almost £1 million.

The debt-ridden Glasgow business has attracted so many potential buyers that a closing date of Wednesday, February 13 has been set for bids.

The deadline has been set by insolvency expert Ian Wright, who was appointed by directors last month when they decided to put the business into administration.

Crippling debts of around £1m, a dramatic drop in customers and the growth of online shopping have all been blamed for the collapse of the business. But within 72 hours of the doors closing a number of potential buyers had expressed an interest in the four-storey building in Wallace Street, Tradeston.

Mr Wright, of Glasgow-based WRI Associates, says more than 20 parties are interested.

He said: "I'm not surprised by the level of interest. But I am surprised at the quality of interested parties. The response has been really good.

"The guide price is £850,000. It's an iconic building, it's known to a lot of people, its spacious and it's near the motorway."

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