Glasgow-based off-licence and c-store chain G101 Off Sales has fallen into the red, according to latest accounts.

The company, which has 46 stores, reported a pre-tax loss of £657 in the year to 31 May 2008, against a profit of £452,261 the year before. Turnover for the year fell 2.4% to £33.9m.

The accounts also revealed that although trade debtors fell from £31,498 to £5,427 last year, trade creditors rose from £2.8m to £3.9m. The company stressed that included in the figures was a £1.3m investment in IT and new property.