Future of Wellington Market secured

Market bosses say they intend to invest money, bring new traders in, stage new events and will look at extending the opening hours.

Last year, Wellington Market Company (WMC) announced it was looking for investors after cash problems saw it suspend the sale of shares.

Andrew Sparrow, CEO of WMC Retail – which operates markets around the country, said the company had faced financial difficulties due to losses at a site in Cornwall.

However, he said the firm had been able to come to an agreement with the landlord over the operation of the site.

Mr Sparrow said it had made the business more attractive to potential investors and an interested party was currently looking to invest, subject to conditions being met.

He said: "There's ongoing discussions with a potential funder.

"We hope to be able to meet those conditions over the next couple of weeks so we can reach an agreement with creditors and move forward.

"The future is looking far more positive."

He said a new management team had also been put in place and they are working with traders at Wellington Market to develop an action plan on how to make improvements.

The market currently has an occupancy rate of 78 per cent, but there are plans to bring more businesses in.

Mr Sparrow said: "We are looking at what incentives there could be to attract businesses.

"We have considered zoning areas so it makes more practical sense to people, we're looking to increase food and beverage in the market and at the possibility of increasing opening hours and opening the market on more days of the week.

"I think there has to be some investment into the building."

Investment would focus on general maintenance, making sure the market is clean and tidy and redecorating areas.

Bosses are also working with a new group which formed to try to breathe new life into the town.

Last year, Wellington Town Council brought together members of the local Chamber of Commerce, business leaders and local councils to discuss ways they can help co-ordinate efforts to rejuvenate the area.

Mr Sparrow said: "Hopefully we can help them animate the middle section of the town but I think other parts of the town also need addressing.

"I think it's important that people think passionately about their market. It's important that they use it." Traders have welcomed the future plans for the market, which was established in 1244.

Emma Woodhouse, who runs Vintage Geek – a comic con stall, said: "It's fantastic. There's lots of plans moving forward.

"It's really encouraging. There's more of a positive attitude now. The market isn't going anywhere.

"Some of the traders have been coming nearly all of their lives. They want to see it doing well.

"We have great stalls on this market, many things you can't get in Telford town centre."

She said the market is also looking to stage a comic con event in December and is considering the possibility of a summer fair and other events.

Julie Sankey, who runs House of Evie which sells handmade crafts and gifts, said: "With the rumours going around that the market was closing it brought the traders down and people didn't seem bothered about putting the effort into their stall."

But she said the plans for the future looked promising and welcomed a possible extension to opening hours, saying it could attract a new crowd.

Jake Taylor, who runs a music shop on the market, added: "It's nice to have an input now."

For more information visit wellingtonindoormarket.co.uk, where people can also apply to become a market trader.