Leicester’s Beaumont Market will close from September this year, after 39 years of trading.
The 15 traders currently operating at the market, which sits in Beaumont Leys, are being offered stalls at Leicester Market until planned redevelopment work begins in October.
Leicester City Council have cited “current and predicted trading losses” as a reason for the closure.
“Shopping habits have changed since the market opened in the 1980s, and there has been a gradual decline in shopping there over several years,” said Peter Chandler, head of economic regeneration at the city council.
“This has resulted in fewer stallholders and a reduction in the income needed to give the market a viable future.
“We are in the process of giving the current stallholders notice to leave, and talking to them about whether they wish to take up the offer of trading space at Leicester Market.
“We realise this will be disappointing news and it is not a decision we have taken lightly. We will be doing all we can to help the traders find alternative places to trade, either at Leicester Market or in other suitable council owned premises.”
Beaumont Market opened in 1984 with 60 stalls, and today operates with 15 traders from Wednesday to Sunday.
The council is looking at the options for selling the land on which the market operates, next to Beaumont Leys Shopping Centre. Work is set to begin on the redevelopment of Leicester’s historic city centre market in the autumn.
During the refurbishment, traders at Leicester Market will be temporarily relocated to Green Dragon Square, behind the Corn Exchange.
The improvements will include more than 80 new stalls, new lighting, green roofs and solar panels, new paving around the market and more outdoor seating.