Hamilton College at Forum House ran into difficulties in January with the suspension of courses and staff redundancies.
The college was delivering a range of vocational courses including warehouse storage and forklift truck operations, employability skills, professional taxi driver qualifications and IT. However, funding difficulties and a staff restructuring prevented them from taking on new students and from starting courses after the New Year.
Hamilton College, which is based in London, moved into Forum House just over a year ago. The Council spent £100,000 on the building so that the college could move in.