Cannock Chase District Council’s cabinet will discuss the plans which could see the Indoor Market Hall traders moved onto the street or into the Prince of Wales Market Hall.
It comes after the council reported a loss of £52,050 over the last financial year.
Now chiefs are set to launch a four-week consultation over the two options in a bid to decide where traders should be placed.
A draft note, which will potentially be sent out to traders, said: “The council recognises that the indoor market in particular isn’t operating successfully and hasn’t been for some time now.
“This is despite efforts to address both its trading format – number of days – and its appearance through investment in improving the market entrance.
“The indoor market hall building is becoming expensive to maintain and is reaching the end of its economic life.
“We are keen to maintain a market offer especially given its history in Cannock town centre, but the format potentially needs to change to make it successful and this is the basis of the consultation.”
On Tuesday and Friday the indoor market could be moved to street stalls – with no market held on Thursday and Saturday.
Or, alternatively, traders on indoor markets on Tuesday, Friday and Saturday could move to the Prince of Wales Market Hall – with no market held on Thursday.
It comes after efforts to revitalise the markets, such as increasing the number of trading days in 2017, failed – with only 17 traders remaining from 40 stalls.
And a shortfall in income from the site has been noted since 2015/2016, a report said.
The Indoor Market Hall is currently open on Tuesday, Friday and Saturday, from 9am to 5pm.
The Prince of Wales Market Hall is open on Tuesday, Friday and Saturday, from 9am to 5.30pm.
This consultation will run from October 3 to October 31.