Grantham: Future of loss-making market under scrutiny

Grantham Market, which is held every Saturday, is expected to lose £84,000 this year

The future of Grantham Market has been questioned by councillors after figures showed it was set to make a loss of tens of thousands of pounds this year.

The council-owned market's losses were expected to hit a three-year high of £84,000 in 2022-23, figures show.

Councillor Virginia Moran asked South Kesteven District Council's culture scrutiny panel how long the market could go on running at a loss.

The panel agreed to immediately review the promotion of its three markets.

Grantham Market, which is held every Saturday, currently has around 30 traders, both casual and regular.

The overall cost to run all three of South Kesteven District Council's markets - including those in Bourne and Stamford - was £64,720 for the last year, council figures showed.

Bourne Market made a £4,000 loss, while Stamford's market made a £24,000 profit, according to the authority's figures.

Ms Moran, of the Alliance SK party, told the council's scrutiny panel Grantham Market cost a "phenomenal" amount.

"Why on earth are we paying £84,000 for a market in Grantham?" she asked.

"It is basically being subsidised by all other towns. What happens when it reaches £100,000?"

While Grantham's market is losing money, Stamford Market is oversubscribed and thriving

Ms Moran added: "Stamford Market is very popular. I know from experience it's very difficult to get a space, there is always a waiting list."

According to the Local Democracy Reporting Service, she urged the culture scrutiny panel to find savings in Grantham.

Meanwhile, independent councillor Paul Fellows said it would be "remiss" not to look at Grantham Market's losses and then conclude there was no need to take "urgent" action.

"Do we cut it down so it becomes affordable, or something more drastic? These losses aren't sustainable," he said.

However, councillors said it was too soon to seek the help of outside professional advisers before Grantham Market's stallholders had been consulted.

The culture scrutiny panel was told there had been efforts to encourage stallholders on Stamford's waiting list to trade at Grantham or Bourne instead, but these had not been successful.

South Kesteven District Council has been contacted for a comment.