A trader at Nottingham's Victoria Centre Market says his nerves are "shot to pieces" as a final decision on the venue's future has still not been made. The market's remaining businesses were told nothing would change before the end of May, with many therefore hoping a final decision would be made last month.
But Nottingham City Council has now confirmed nothing will change before the end of June, pushing back a final decision by at least another month in a move some have branded "absolutely disgusting." Rumours about the market's closure first started circulating in the Christmas of 2021, with traders there eventually being given a date of February 24 by which Nottingham City Council was due to surrender its lease.
But that date passed without any further clarity for traders, despite some of them having signed compensation offers with the council and being ready to move into new premises. Since the original lease surrender date, the city council says it has remained in talks with the market's asset managers, Global Mutual.
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The authority says its lease for the market is estimated to cost £39 million over the next 50 years. Having discussed compensation with traders, the council said earlier this year that it was considering the "full financial impact" of leaving the market rather than keeping its lease.
But with hopes of a final decision having been dashed again, some traders have spoken about the financial impact the uncertainty is having. Nick Clark, who runs Cobblers and Keys, said: "I'm well over £50,000 down in terms of turnover compared to what I used to be doing.
"But I had an agreement in place to move to a new premises and the council pulled the plug on it at the very last minute. Mine is quite a big beast of a business so it took a lot of preparation getting the new shop in the Victoria Centre ready, so I think I'm another £10,000 down there.
"My nerves are really starting to suffer now because of this, they're shot to pieces." Another one of the affected traders is Carole Lilley, who currently runs 'Carole's', a clothing stall.
She said: "I think this is absolutely disgusting. I'm about six months into debt now because all the bad publicity this has caused means that some people think the market is already closed.
"I stood at my stall all day recently and took £19 on a Saturday, when my rent is £58 a day. I would usually be taking in around £200 to £300 a day and you just can't run a business like this, so I think I'm going to have to find myself a part-time job very soon.
"This is what I think is happening, they're waiting for all of us to leave one by one so that they don't have to compensate us. But in my books I'm about £7,000 in debt, because that's what the rent has been over the last six months of uncertainty, and I think that should be compensated."
Confirming the latest position with the market, a Nottingham City Council spokesperson said: "We have contacted traders as promised to keep them updated about the future of the market. However, there will be no changes until at least the end of June 2023.
"We do understand the ongoing uncertainty is frustrating and we plan to meet traders face-to-face to discuss matters on June 15." A spokesperson for the Victoria Centre previously said: "The market is run and operated by Nottingham City Council and they have been – and remain - fully responsible for all decisions regarding its future.
"We are willing to continue an open dialogue with Nottingham City Council but, alongside the stallholders, we are seeking greater clarity on their long-term position regarding the continued operation of the market and the financial investment that it requires from them."
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