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Officers had been inquiring into the affairs of the business after being contacted by concerned dealers who dealt with the centre. Last week, the Antiques Trade Gazette reported that Mr Gilberthorpe, who had run the centre for six and a half years, was in dispute with the owner of a new antiques business which had taken over the centre against his will.

David Waggott opened The Antiques Centre York after taking possession of the premises, claiming Mr Gilberthorpe had defaulted on debt payments to him.

DC Rich said: “We are obviously aware of the various concerns expressed about Stonegate Antiques Centre. But, following preliminary inquiries, there will be no further investigation.”

There has been no further comment from Mr Gilberthorpe who, last week, vowed to regain control of the centre.