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So the Trust of - has thrown in the towel and called in the administrators.

Their claims that they could streamline the operation and raise further funds proving just too tough in the current climate.

Despite press speculation to the contrary, the building will remain open for the time being while its future is negotiated.

I understand at least 24 of the 57 staff have already been made redundant. It's unclear what will happen to the remaining staff and the current programme of events.

It's all a far cry from the big shiny building the Queen opened back in 1999 - the main structural legacy of Glasgow's reign as city of architecture.

It was, we were promised, a centre which would convince the ordinary man on the street that architecture and design were not just an essential part of his daily life, but something he should actively engage in.

A big promise and one, which for all the imaginative attempts of the various staff who tried, failed to really achieve that buzz.

Part of the problem was the location.

Despite having a prime city centre location, its entrance was down a dark lane, meaning neither the building or its entrance were clearly visible from the main drag.

Its Six Cities Design Festival failed to inspire the Government enough to commit funding to a second one.

The result was an overspend on staffing and planning, which combined with the cost of attending the Venice Bienalle, pushed the Lighthouse so far into the red that it had to ask for an emergency package last year.

The writing was on the wall from then as the board attempted to boost their commercial earnings - already a substantial achievement compared to other organisations - in the midst of a world wide recession.

What will happen next? Glasgow City Council may know.

They own the building, and if they can convince the administrators there's a viable way to keep it open with the focus on a business centre for the creative industries, The Lighthouse may live on.

The problem will be convincing councillors that - just as they prepare to launch two new revamped arts centres (Trongate 103 and the the new Tramway complex) that's there's scope for another.

And those who invested heavily in the original building - including the Lottery Fund - will want assurances that any new organisation will be open and accessible to as many people as possible.