The owners of a 150-year-old St Andrews business have been declared bankrupt.
MacGregor Auctions, regarded as one of the best auction houses in Scotland, has been closed for several weeks, prompting speculation over its future.
It has now been confirmed that Graeme Smith, insolvency partner at Henderson Loggie, has been appointed to manage the affairs of owners Sandra and Ian Urie, who have been synonymous with the auction house for decades.
Mr Smith said: “I can confirm that I have been nominated as trustee in the individual applications of Mr and Mrs Urie to the Accountant in Bankruptcy (AiB) for sequestration.
“Going forward, subject to approval of the AiB, I will be only involved in dealing with the individuals’ sequestrated estates.
“I will have to accept claims from any of the firm’s creditors under the joint and several rules, but will not otherwise be involved in the affairs of the firm of Macgregor Auctions.
“I am advised that the keys have been handed back to the landlord of the premises.”
Macgregors has been on the go for more than 150 years and has been a favourite gathering place for experts and interested locals.
Sales were held every fortnight.
It is understood there are a number of concerned customers who had dropped off items for auction before it closed and have been left in limbo.
Do you have goods at MacGregors? Contact the Courier at news@thecourier.co.uk or phone 01382 575130.