Two historic London food markets, hundreds of years old, to permanently close
Published On Nov 27, 2024, 3:48 PM
Two historic food markets in London, Smithfield Market and Billingsgate Market, are set to close permanently, with operations continuing until at least 2028. This decision follows the City of London Corporation's move to cease co-locating these markets at a new site due to high project costs and operational challenges, exacerbated by inflation. This shift will prompt financial support for the affected traders to help them find new premises. New Spitalfields Market will remain operational, unaffected by this closure.
Stock Forecasts
BGS
Negative
The closure of these iconic markets is expected to impact the local food supply chain and may affect stock in businesses that rely on these markets for sourcing their products. However, the transition period and support for traders could mitigate immediate adverse effects.
HOG
Negative
Companies that are suppliers to Smithfield and Billingsgate or trade heavily in fish and meat products may see disruptions. However, businesses capable of adapting to the changing market landscape could benefit in the long run.
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