Yesterday (31 March) marked the informal closure of Victoria Market.
The Council confirmed its plans to close the market last year, with a target closure date of 31 March 2025.
Since serving notice to traders last year, the Council has been working closely with those affected to support them through this transition.
Now, a number of traders have ceased trading at the end of yesterday, with many going on to secure premises elsewhere in the city. However, some traders will remain in occupation beyond this deadline while negotiations continue.
Councillor Sam Lux, Portfolio Holder for Carbon Reduction, Leisure and Culture said,
“We understand that the closure of the market is a significant change for many traders who have been part of our community for years.
“Over the years, plans for the future of the market have been too vague, but since new leadership came in last year, we have been clear on plans to close the market. The fact is the Council has been subsidising a number of private businesses for too long, and we cannot justify using the Nottingham tax-payer’s money to subsidise private businesses at a time when demand on Council services is so high.
“Our priority since announcing the closure date, and serving notice to tenants, has been to support these businesses through this transition.”
Despite the deadline of 31 March, a small handful of traders will remain in the market beyond this deadline, while negotiations continue.
Cllr Lux continued:
“I’m really grateful to those traders who have worked with us so far. The decision to close the market wasn’t taken lightly, but the Council could not continue to fund private businesses to stay open.
“It’s a shame that there are a small number of traders who have not been open to negotiations. We understand that these are people’s businesses, but as a Council we have a duty to protect the public purse.
“Some of these businesses owe the Council a significant amount of money, and some are asking for compensation packages that are completely unjustified. We have been, and remain open to discussing reasonable relocation costs.
“In terms of what’s next for the space, given that traders previously did not take up the option to run the market themselves, we have been actively working with the landlords of the Victoria Centre to consider new uses.
“Talks with them are ongoing, but we would love to see a space that benefits the local area, in line with their vision for a renewed retail centre.”