Trouble-shooting experts are to be called in “immediately” to help save Wolverhampton’s struggling markets.

The city council is on the verge of striking a £20,000 deal with a specialist team of advisers.

They will draw up an emergency plan for saving cash on the crisis-hit indoor and outdoor markets. The council’s cabinet is meeting next week to rubber-stamp the deal, with the specialist team set to move in right away in a desperate bid to save money.

The deal is being set up despite the council already having a dedicated department for the markets, which employs 33 people.

Wolverhampton’s markets are forecast to lose £290,000 this year, but the council says the deal will see £150,000 saved in running costs over the next three years.

It has already sounded out prospective firms and will make an appointment after the meeting on Wednesday.

As the Express & Star reported last month, the markets will be sold off to a private sector firm in 2011 to help revive the flagging operation. The outdoor market could also be moved to busy Dudley Street, where it could attract shoppers from the Mander and Wulfrun centres.

The outdoor market has more than 20 stalls empty and the entire operation only attracts around 6,000 people a month.

Councillor Barry Findlay, deputy leader of the council, said the deal was imminent.

“We have approached firms about this but exactly which one gets the contract will be decided after the cabinet meeting,” he said.

“It is my view that the council is not necessarily best-placed to run the markets, and it is a view I have held for a while.

“Wolverhampton market is of great historical importance to this city and we want to see it thrive once again. Currently the city centre market is losing taxpayers money and this cannot be allowed to continue – we simply cannot sit back and take no action.”

But Dud Malik, from Wolverhampton’s market traders federation, said: “This a waste of money to me – we have sat down with the council and I can’t see where any savings can be made. This is yet another cost on the balance sheet.”