With the new tenant Simon Drieu and Co Ltd, and Glencoe’s owner, Gladys Maillard declining to comment, it fell to the owner of Maillard’s, Joy Morgan, to clear up the confusion over who will be operating the weekly auctions which have been a feature of Island life for 50 years.

‘An agreement has been reached over the last few days and we are in possession of Glencoe until mid-February,’ she said.

Maillard’s were given notice to quit last spring and are currently turning the former Butterfly Farm at Haute Tombette in St Mary into a centre for the company’s auction business.

The estate agency and funeral directors businesses will remain in town.

As the two new auction halls in St Mary will not be ready until July, Mrs Morgan said they are negotiating for a sales site to use from February to July.

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