ONE of Glasgow's best-loved alternative clothing stores has closed down.

For nearly three decades Flip was the place to go for second-hand overcoats, retro jackets and funky T-shirts.

It was a firm favourite with students and people who wanted to stand out from the crowd.

But now the indie institution has gone into liquidation with the loss of 25 jobs after hitting a cash crisis.

Director Leslie Docherty admitted it was a "sad day" blaming "a difficult retail market and high business rents".

Customers arriving at the store in Bath Street yesterday were gutted to find a closure sign.

Dougie Graham, 27, of Dennistoun said: "I can't believe it's closed. I've been shopping in Flip for about 12 years.

"Flip was a bit of an institution in Glasgow and it's a real shame to see it closing."

The store shut for several months after it was flooded following a fire in the neighbouring pub the Bay Horse in 2005.

Docherty, a director of Flip for the past four years, said: "I'm glad to say most of the staff have found alternative jobs.

"However, it's still difficult for everyone because we were like a family.

"People in Glasgow have a lot of affection for Flip. I bought my first baseball cap here and my first pair of Levi 501s.

"The retail market is difficult just now. Turnover has been down 30% since Christmas."

Flip, which also has a store in Edinburgh, was founded by Glasgow couple Jean Brown and Colin McNaught back in 1980.

The first shop was in Wilson Street in the Merchant City, but it later moved to bigger premises in Queen Street.

It was there the store's reputation for supplying clothes to alternative crowds began to flourish.

Jean and Colin sold the business around four years ago and moved to the US but are said to be "saddened" by news.

Renowned Glasgow tattooist Kenny Mitchell also rented space in Flip's Bath Street premises.

He has relocated to Hellfire in West Nile Street.