Liverpool City Council has closed St John’s Market with immediate effect.
Monday’s decision to shut down the city centre market which first opened in 1822 was taken after a lengthy rental dispute with 43 business owners.
Council bosses claim over £1.7 million of unpaid rent and service charges dating back to August 2020 remain outstanding despite repeated attempts.
The result of that non-payment is now estimated to have cost the council around £1m per year to subsidise the market in St John’s Shopping Centre.
It was also alleged that the option of negotiation for the repayment of those debts did not receive a ‘meaningful response’ prior to the announcement.
All of the businesses will be given the option to arrange a date and time with the council to collect any remaining stock from their former stalls.
One business has been making payments throughout this period and the council confirmed it will look to undertake negotiations to relocate that stall.
Cllr Nick Small, cabinet member for City Development, said: “The council has made this decision to close the stalls very reluctantly.
“Every non-paying business owner was given plenty of time and opportunity to enter into a meaningful dialogue.
“Given the annual cost to the council of leasing the site for the market is around £1m a year, it is no longer a viable situation for the businesses to continue to pay no rent, service charges and to offer only a repayment offer of 33% for past and future costs.
“Each non-paying business owner owes tens of thousands of pounds to the council and we cannot continue to subsidise their businesses.
“We have a duty to collect and it’s not fair to continue in this way when we have vital services to protect and other businesses across the city are fully paying their way.”