Traders at Nottingham's Victoria Centre Market say they 'have been made homeless' as they enter advanced talks with the city council over compensation. It comes as Nottingham City Council addressed rumours over the closure of the market, with some businesses saying the future is 'uncertain'.
The authority first recommended in August 2022 it should end the current lease for the market to save more than £39 million. But the council said no firm decision had been made and traders say they have been "left in the dark" since the initial announcement.
Two traders at the historic market have announced their permanent closure in the last month and Nottingham City Council has now provided more detail on where discussions are at. A Nottingham City Council spokesperson said: "As part of a review of our operation of the Victoria Indoor Market, we put forward a proposal to end the lease.
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"While our consultation showed strong support for the council's ongoing running of and investment in the Victoria Market, the reality is this is estimated to cost £39m over the next 50 years of the lease. Therefore, to meet our duty to deliver value for money for local taxpayers, we have been undertaking confidential discussions with all traders about recommended offers of compensation in the event that the market closes.
"This engagement has now largely been completed and the council is considering the full financial impact of the proposed exit from the market." On the compensation plans, the City Council spokesperson added: "We will now need to undertake further work to consider whether this represents best value for taxpayers before a final decision is taken on the future of the market."
Anthony Truin, who has been running his foam shop at the market for 35 years, said the process "made me ill". The 54-year-old added: "They are destroying people's lives. I am not good online and I do not know where else to go.
"I do not know anything different."
Opposite his shop there were "thousands of metres of fabric" sitting in a vacant stall. "How am I going to transport all this fabric?", Mr Truin exclaimed.
"The last six months have been difficult. My customers ask me when I am going to close and the answer is: I do not know what is happening. It is the end of an era.
"I do not know where I am going to go. You see all the empty retail units in the city centre." He continued: "It has made me ill. I have palpitations.
"They have made me homeless. And their compensation is not enough. You see some people who are in their 60s and will get the compensation and leave. But I am 54 - I need my business."
Mona Dhingra has been running her beauty salon Mona’s Beauty Bar for 15 years. She added: “The future is so uncertain. We are so happy here, we have never been late with rent and we are always busy.
“We have customers who still come to us since day one. We feel like we have been made homeless.”
When Nottinghamshire Live visited, Mona’s Beauty Bar salon was busy with loyal clients getting their hair done. Mrs Dhingra commented on the compensation deal, adding: “It is not enough for us. We need our business.
"With our business, you need to be established to be able to move. We need to start telling our customers where we are going to move but we don’t know yet because the council have not told us. We always find out from the news.”
Shoppers Karen and Michael Dickens have come here every couple days in the last eight years to the market. Mrs Dickens, aged 71, said: "We do not know where else to go when this is gone. It is just terrible - absolutely heartbreaking."
The couple from Sherwood enjoyed a £10 lunch for two, which included jacket potatoes, cheese, 'the best ham' and tea. Mr Dickens added: "I do not know what we are going to do. You see a lot of old folks here, because it is cheap and nice. We used to come here when we were children."
East Midlands Chamber director of policy and external affairs Chris Hobson said: “The Victoria Centre Market has been an important part of Nottingham’s fabric for decades, with generation after generation having fond memories of shopping with its many independent traders.
“These small businesses have been not only integral to the community but also the economy, helping to attract people into the city centre to spend their free time while servicing both residents and workers too.
“It would be a devastating blow to traders and shoppers alike should the market close, but we also understand the significant financial stress being felt by the council during difficult economic conditions.
“Should the market close, we hope the council will work closely with the affected businesses to relocate them elsewhere in the city, ensuring not only the continued survival of these companies but also sustaining a thriving independent shopping culture in Nottingham.”
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