40% OF MARKETS IN THE UK MAY NOT SURVIVE - NEW NATIONAL SURVEY REVEALS
The additional burden of the lock-down on high streets across the UK has seen some major retail casualties, with thousands of jobs at risk and big brands announcing closures.
The National Markets Association (NABMA) now reveals that 2 in 5 traditional retail markets across the UK may never open again. This would mean over 400 markets, that have been at the heart of towns and cities for centuries, being lost.
The startling results come from a national survey of market operators, from both the private and local authority sectors.
The survey reveals that, at present, only 20% of markets are open with limited trading in food and essential goods and footfall in these is down by over 80%. Most UK markets are managed by local authorities and, although market traders have been the focus of business support from the government, no financial support to date has been offered to local authorities as market operators. Lost market rental income at some of the largest markets is over £300,000 ($370,000) per month. #coronavirusimpact #COVID19