During the takeoff from Glasgow Airport, the left inboard (No 2) tyre shed its tread. This led to the loss of the A system hydraulic contents, failure of the landing gear to retract and failure of the left main landing gear (MLG) green 'down and locked' light to illuminate in the cockpit. After holding for three hours to burn off fuel, the aircraft landed safely. The tyre failure was most probably due to fatigue in the sidewall. The tyre was at its sixth retread and close to its wear limit and may have reached its ultimate fatigue life prematurely for an undetermined reason; the retread limit for this tyre was R-6. The operator has since put in place several safety actions to prevent recurrence. No recommendations are made in this report.