Stratford market traders face 'uncertain' future

Samantha Scott and her partner Wade Fraser-Trout

An east London council has said it would not be "prudent or fair" to residents to take on the cost of running a local market.

Some 60 traders at the Market Village in Stratford Centre had to close when the market shut on 10 January.

Samantha Scott, of GT Spice Caribbean Takeaway, said: "Somebody needs to step up and do the right thing to open up the market."

But Newham Council insisted it offered "all the support that the council can".

Traders said they were told the market was closing on the day of the closure and were given no warning.

Since then, discussions have been under way between traders, the council and Unex, landlords of Stratford Market Properties Ltd, to find a way of reopening the market "as quickly as possible".

• Traders 'shocked' after being shut out of market

A spokesperson for the council said the "extremely challenging financial climate for local authorities" meant it would not be "prudent or fair" to residents to take on the cost.

"We were shocked by the sudden news that Stratford Market Properties Ltd had gone into administration and closed Stratford Market Village on the same day that the affected traders were notified," they said.

"Stratford Market Village has for decades been a vibrant landmark of the Stratford community and economy.

"[Unex] suggested that the council take over the lease and run the market or act as financial guarantors over a period of 12 years.

"It is in Unex's gift to make short-term arrangements to enable Stratford Market Village to reopen, while they find a market-management company to take over the lease or work with the traders to develop their own company to do this," they continued.

'Whole community out of work'

Angela Akbas, who ran Cafe Central in the market for 22 years, said she remained "absolutely devastated".

"This is going to put 500 people out of work if the Stratford Market Village is not reopened," she said.

"Unex's director said he'd like to reopen, pending enough investment."

GT Spice Caribbean Takeaway is one of the businesses at the market that have been forced to close

Ms Akbas said Newham's mayor Rokhsana Fiaz was asked to be a guarantor for the market, but she "refused".

"What I can't understand is that I know the mayor may not have it in her budget, but she could get other aid from the government.

"This is a whole community out of work."

Ms Scott said: "We're just trying to get answers.

"People are uncertain, not knowing whether they're going to get to go back to work or not, and that's the most worrying thing.

"It's just uncertainty, stress, worry, tears."

'In discussions'

In a statement, Unex said it had explored "all options available in order to facilitate the reopening of Stratford Market" including with the council, "but for reasons Newham have already given these discussions failed find a resolution to the issue".

"Unfortunately Unex has been let down by its tenant, Stratford Market Properties Limited (SMPL), and the liquidator has now disclaimed SMPL's interest in the property," it said.

It added any new tenant needed to be of "sufficient financial strength to provide comfort that the market will be run properly and lease obligations will be fully met".

Otherwise "this situation would simply happen again in the not too distant future", it said.

The statement said Unex was in discussions with a number of potential tenants but "thus far no-one that has been in contact has been able to provide this financial comfort".

Stratford Market Properties has been contacted for a response.

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