Cannock Market trade down after council changes
Controversial changes to an indoor market which saw rent rises for traders who were also made to open up on an extra day have dramatically failed to boost trade.
Footfall at Cannock Indoor Market is actually down 10 per cent.
Since April 1 the council has charged traders three per cent more in rates whilst stipulating they must also open up on for a fourth day – Thursdays.
But the moves, which were vigorously opposed, have backfired. A quarter of traders left the venue as a result with prospective stall holders put off by the amount of empty units.
While customer footfall between April and the end of September is down 10 per cent compared to the same period in 2016.
The council estimates by the end of the current financial year the total income will be around £162,000 – a reduction of £29,000 compared to 2016/17.
It has also emerged the authority is at a stand-off with two traders. Initially a number of stallholders had boycotted the Thursday opening despite having to pay rent for the day anyway.
As a compromise the council agreed to waive rent for the day for six months providing that they opened the stall.
Nevertheless two traders have remained firm and still refuse to operate on Thursday.
The damning state of affairs has been revealed in a report set to be tabled before the cabinet committee on Thursday.
Cannock Chase District Council bosses will discuss a request from traders for further rent discounts.
Nirmal Samrai, housing and partnerships chief, said: “There has been no noticeable increase in rental arrears in respect of the indoor market since the implementation of the savings options.
“However the indoor market traders consider the additional trading day to be a significant threat to the viability of their businesses and to the future of the indoor market and they ask that the council give them further rent discounts above the 25 per cent discount.”
However the report dismisses the notion that the decline was brought on by the changes arguing markets throughout Cannock Chase are similarly struggling.
The report adds: “In conclusion the impact of the savings option has worsened the financial position of the market. However, markets across the district and in general have also continued to decline.”
A long-standing trader who did not want to be named, said: “The changes have improved nothing. It’s not just Thursday it is every other day.
"There are too many empty stalls and people think it’s not worth coming in. It’s a real shame it used to be one of the best markets in the area.”
