Thirty businesses operating out of Nottingham’s Victoria Centre market say they have been left guessing as to when the fifty-year old market will finally close.

A decision to shut the market was announced by Nottingham City Council in November last year (2023) just after the authority declared itself bankrupt.

The council says that cancelling the market’s lease early will save around £39million pounds.

But traders say their lives are on hold as they haven’t been told exactly when that will take place. They say the uncertainty has forced many traders out already and is impacting those left behind.

 

Now the council has promised to keep them better informed and create clearer communication between traders and themselves so that they can plan for their futures.

”Consumer habits have changed massivley”

Pavos Kotsonis, the Councillor for Leisure and Culture said that the market closure is unavoidable due to the current climate. He adds

”We’ve seen a massive change after the pandemic of covid 19. Especially with the public doing things online at home and less people using the markets. The habits of consumers have changed massively! We took the choice to do this because the lease was made many years ago and it’s just not delivering and its harming our finances. Tax payers money needs to be spent in a way that delivers for them and we as an organisation needs to adapt to this. It is also important that we do communicate clearly with the trader’s however.”

Nottingham’s Victoria centre market has been up and running for fifty years since opening in 1971 offering a shopping experience for all;

– hair and beauty shops

-Food stalls

-Jewellery

-Phone repair shops

-Cafe’s and more…

In the early 2000’s the Victoria Centre market had over 400 stalls in comparison to 30 in 2024. The authority has stated that there was a six fold increase in service charges in 2015 which negatively affected stalls and pushed a lot in to bankruptcy followed by the covid 19 pandemic which then financially hit the remaining stalls that survived 2015.

Stall owners believe that their lack of custom now is due to the unclear messages on the closure and want people to know they are still open, for now…