A famous meat market, Smithfield, and Billingsgate fish market in London will close after more than 800 years of trading. The City of London Corporation has voted to cease operations at both sites, citing increased construction and inflation costs as reasons for not proceeding with a previously planned relocation to a new £1 billion development in Dagenham. Compensation worth more than £300 million will be provided to traders, allowing them to continue their operations until at least 2028.
Smithfield is believed to be the oldest market in the world
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London's Oldest Meat Market Faces Closure After Crucial VoteLondon's oldest meat market, Smithfield, could close permanently following a critical vote today. The City Corporation plans to relocate Smithfield and Billingsgate fish market to Dagenham, but due to cost overruns, the recommendation is now to shut down Smithfield and compensate traders with potential payments exceeding £300 million.
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