Traders and councillors voice fears over Wellington Market's future
Traders and councillors have voiced fears over the future of Wellington Market after its financial difficulties were revealed.
Wellington Market Company (WMC) announced it was looking for investors after cash problems saw it suspend the sale of shares.
Traders were told the company was undergoing a valuation process for all its properties. Wellington Town Council said it was extremely concerned by the news, and would be looking at ways of working with others to help safeguard the historic market, which was established in 1244.
Roger Davis, aged 65, runs a card and flower stall and has been a market trader for 50 years. He said: “The market is the lifeblood of the town. If the market wasn’t here the town wouldn’t exist as it is.”
Dominic Short, who runs a bread stall, said: “Without the market, the town is finished.”
In a report to the stock market, WMC said: "The directors are seeking a significant funding package to secure the immediate future for the company, however there is no assurance that the company will be able to raise sufficient funds.
“At the current time, the company is reliant on the support of creditors, customers and shareholders to enable it to continue to trade.”
The firm made a loss last year of £51,000 on sales of £4.2 million.
Esther Worboys, for WMC, added: “ We are currently speaking to various investors in order to be able to action some of our long-term strategic plans.”
