Market takeover pitfalls are raised
Plans to allow a private firm to take over half-ownership of Walsall's historic market could face a challenge in the courts, it was claimed today.
Plans to allow a private firm to take over half-ownership of Walsall's historic market could face a challenge in the courts, it was claimed today.
The borough council is asking firms to lodge bids for 50 per cent control of the 800 year-old pitch, but Walsall South MP Bruce George says the terms of the market's original charter could prevent the move on legal grounds. Traders remain in limbo, waiting to hear if they can move from the current Digbeth site to The Bridge on a temporary basis.
They would eventually relocate to a new, purpose-built market square in Lower Hall Lane. Mr George said: "The problem with the council is that they don't seem to have the slightest interest in history.
"I don't want to compromise development, but I don't think plans to stick it in a corner of the town are going to save the market.
"Trade has gone down at the market, but I think you will find the same is true at most shops all over the country. They are tendering out 50 per cent of its management, which I think could be challenged in the courts."
Mr George added: "Walsall Council's record with legal cases is not perfect and I think 50/50 ownership is pretty dangerous."
Traders at Walsall's historic market could launch a bid to take over half-ownership of the market. It had been widely thought that development giants Norton & Profitt were favourites for the deal, but traders plan to meet to discuss the scheme this week.
The possibility of getting European funding for such a bid is currently being looked into, but stallholders insist it is a genuine option for consideration.
No-one was available for comment today at Walsall Council.