Bosses say Black Country market will remain open

Stallholders at Cradley Heath Market have said there is 'no intention' of closing after it was revealed its parent company had gone into receivership.

Businesses at the market, which also includes 22 shop units, some of which face onto Cradley Heath High Street, were sent a letter by administrators KPMG informing them that Landmaster Ltd had gone into receivership.

But market manager Peter Cope says he has had it confirmed with those managing the receivership that the popular market will not be shutting its doors.

He said: "I've had it confirmed from my head office in London, who had it confirmed from the receivers that there's no intention of closing this market whatsoever.

"As far as we are concerned it is business as usual.

"We are actually taking on new traders – I took on one last week and I'm taking one on next Tuesday who has moved over from West Bromwich market, selling greetings cards."

The news will come as a relief to residents who were concerned the market may be forced to close saying it was 'the heart of the High Street'. Council officers had already been asked about the possibility of moving traders to other locations in the town by councillors.

The market, known locally as the 'big market', is also running offers to entice more traders, and to attract more businesses into the vacant shop units. Mr Cope said: "We are inviting people to come in and view the shop units, and asking them to make offers as opposed to us telling them 'this is the rent'.

"We have a ceiling price which we cannot go below, but even that is very generous."

The market had run a limited-period offer of free stalls to traders, and even though this has now come to an end they are still offering phased payments instead of full rent.

The market is open on Tuesdays, Wednesdays, Fridays and Saturdays from 8am to 4pm.

A spokesman for KPMG, which is managing Landmaster Ltd's receivership, said: "This is a large, complex portfolio of properties located across England and businesses are continuing to trade as usual across all of the properties.

"We are working closely and in dialogue with a number of third parties as work continues to stabilise the business and maximise its value."

Meanwhile a new car boot sale could soon be operating on Sundays in Oldbury after a planning application was lodged.

Sandwell Council is hoping to open up its Dudley Road car parkon Sundays for a car boot sale or market.

The urban regeneration team at the local authority submitted an application last month to its own planning department to seek approval for the plans.

The application states the site would be turned back into a car park, which has space for 561 vehicles, in time for Monday mornings.

The proposals for the scheme were approved by the council last July, when it was claimed there was demand for the introduction of such a service in the town.