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A trader at a Nottingham market has said he is thousands of pounds out of pocket as tenants await a decision on their future. Nottingham City Council said it may end the lease on the Victoria Market in a bid to save £39m over 50 years.The council has previously said it does not expect to make a final decision on the market before the end of April.
It said it had been running the market at a loss since 2014, and had been forced to subsidise it at a cost of more than £1.5m a year.The market opened in the shopping centre in 1972 and was once home to more than 200 stalls, but now only about 30 traders remain.He said a compensation package was offered and he almost secured a new lease in the main Victoria Centre, before being informed the early lease surrender was "no longer being processed".
But he is having to spend a similar sum in legal costs for the new lease which the council will not pay for.A spokesperson for the Victoria Centre said it had been told the early release could not be progressed at the time being and it was looking to clarify the situation beyond April.
Plenty of smaller empty spaces that the council could lease and place these 30 traders in. Rather than leasing a space that holds 200 traders and is three quarters closed… What’s being done with the old Debenhams? Split it and use a floor for the market, by the… market square?
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