A decision on the future of the Victoria Centre Market will be made at the end of July after a consultation attracted more than 600 responses. Nottingham City Council has put forward a proposal to review its operation of the market in the Victoria Centre, which opened in July 1972.
Closing it would save the Labour-run authority £39m over the remaining 50 years of its current arrangement. The council says it must consider the market's future because customer demand for it is falling, and it is paying a substantial subsidy to keep it going.
Some traders blamed high rents, lack of investment from the council, and a failure to bring in new businesses for the decline. They say that only 30 businesses are now operating at the market, with a potential 200 stalls not let out.
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Some traders such as The Sweet Tooth Cave and Mary and Tony's Books have decided to shut up shop before a decision is made. However, other traders are fighting to keep the market going and refuse to leave the centre.
In May, Stephen Taylor, 53, from hardware store Aladdin's Cave, said the closure of the market will put up to 90 people out of work - four within his unit. "We are going to fight this all the way," he said.
"It is an asset to Nottingham. Every other city in the country has a market. This should and could be the heart of Nottingham.
"This is a family business of four generations. We will be unemployed if it closes. Traders have paid millions to the council over the years."
Labour councillor Linda Woodings, who represents Basford and is Portfolio Holder for Adults and Health at Nottingham City Council with current responsibility for markets, said: "We understand traders' frustrations at the uncertainty around the Victoria Centre Market's future at this stage. Our wide-ranging consultation closed at the start of the month and council officers are now working through more than 600 responses received.
"Once all the relevant information is gathered, a full report will be published with an outline of the next steps to be taken - we anticipate by the end of July. But we need to fully understand the feedback from both traders and the wider public consultation to make sure this is fully informed.
"Discussions have also been taking place with Global Mutual, the owners of the shopping centre, and traders will be the first to hear about the proposed next steps."
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