In 1989 there proved to be some need for haste, when the ship was flooded when the deck edge was trapped beneath the wharf on a very low tide.
The Club in some desperation took the option on its insurance of having the vessel declared a total loss.
To facilitate the preservation of the ship, Glasgow District Council applied for Listed Building status.
Historic Scotland agreed to take the unusual step of listing a historic vessel as Category A – normally only applied to historic buildings.
Listing was viewed as a boost to the preservation project.

By 1990 a new body, the Clyde Ship Trust, had been formed and, in March of that year, had purchased the vessel for £1.
Under the control of the new Trust the vessel was dismasted and prepared for removal and in August 1990, was towed downstream to Princes Dock.

Early in 1991, for reasons that have not been clearly identified, the vessel sank at her moorings.
The Clyde Ship Trust was placed in a position of embarrassment, for, being already in debt, it was unable to put forward the funds required for a major salvage operation.
It became necessary for other organisations to step in to attempt to prevent the total loss of the ship.
In 1989 there proved to be some need for haste, when the ship was flooded when the deck edge was trapped beneath the wharf on a very low tide. The Club in some desperation took the option on its insurance of having the vessel declared a total loss. To facilitate the preservation of the ship, Glasgow District Council applied for Listed Building status. Historic Scotland agreed to take the unusual step of listing a historic vessel as Category A – normally only applied to historic buildings. Listing was viewed as a boost to the preservation project.
By 1990 a new body, the Clyde Ship Trust, had been formed and, in March of that year, had purchased the vessel for £1. Under the control of the new Trust the vessel was dismasted and prepared for removal and in August 1990, was towed downstream to Princes Dock.
Early in 1991, for reasons that have not been clearly identified, the vessel sank at her moorings. The Clyde Ship Trust was placed in a position of embarrassment, for, being already in debt, it was unable to put forward the funds required for a major salvage operation. It became necessary for other organisations to step in to attempt to prevent the total loss of the ship.
City of Adelaide (1864)