Closure of historic city market confirmed

Nottingham City Council has told some traders their leases will be terminated by March next year

Nottingham City Council has confirmed the closure of the Victoria Centre Market.

The council first announced its intention to close the market in 2022, saying it had been forced to subsidise it ever since the centre’s previous owners, intu, put service charges up in 2014.

The Labour-run authority now says it is terminating legal agreements with traders who have break clauses, while others have been served notices for not paying rent.

The council said a collective £400,000 was owed by some traders who had not been paying rent.

John Easom, of Gold Bank Jewellers, said the council had served notice on most of the stalls on the front of the market

It said any traders who had failed to pay rent for more than three months would be asked to vacate.

"We have recently confirmed our plans to close the market and have served notice on traders with significant rent arrears," a spokesperson for the council told the Local Democracy Reporting Service.

"Unfortunately, several stallholders have breached their legal agreements by failing to pay rent, collectively owing the council over £400,000. Any trader with more than three months of unpaid rent will be formally notified to vacate the market.

"With the council facing substantial financial challenges, it's crucial that we address these outstanding rent issues. Additionally, we will be terminating legal agreements with traders who have applicable break clauses to cease their occupancy at the market."

One trader served notice this week said the authority’s handling of the market had been "appalling" and closure would stifle the development of independent businesses in the city.

Date to vacate

Keeping the market open for the remaining 50 years of the council's lease would cost in the region of £39m, the council said, while maintenance and investment would cost millions in taxpayers' money.

After the council declared itself effectively bankrupt in November last year, traders were then told the market would close this summer.

In June the authority confirmed it was still looking to close the market, however the target closure date was missed again.

Some traders have now been served termination of lease letters stating they must vacate by 25 March 2025.

A meeting between council representatives and traders is scheduled to take place on 19 September.

Carole Lilley said the market used to be busy and she would have five girls working on a Saturday

John Easom, of Gold Bank Jewellers, said he had been served notice because he had a break clause in his agreement.

He said the council had served notice on most of the stalls on the front of the market, which would "close this market by stealth".

"I feel extremely sorry for the future retail businesses of Nottingham city that now will have no place to start," he added.

A market trader for 39 years, Carole Lilley, who runs Carole's Underwear, welcomed the news of the closure.

She said: "I'm very pleased to be honest with you. It's been going on for so long, it's ruined trade, customers don't come in any more, it's ruined my business, it's sent me into debt.

"We've been mucked and messed around for at least two and a half years now... and if it's a definite [the closure] then I'm very happy, because I can't continue like this."