A historic meat market, Smithfield, which has been trading for over 800 years, is set to close permanently. The City of London Corporation has announced its decision to cease trading at Smithfield meat market and Billingsgate fish market after plans to relocate them to a new development in Dagenham were put on hold due to increased construction costs and inflation.
The corporation will provide financial compensation to traders, estimated to be over £300 million, and traders will be allowed to continue operations until at least 2028. Smithfield is known as the oldest market in the world, with its Victorian buildings designed by Sir Horace Jones
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