The market costs around £1m for the cash-strapped council to subsidise
Amid what the local authority describes as a “high level” of money owed, the city is to seek funds from traders dating back to 2020. Currently, the market costs Liverpool Council just under £1m a year to subsidise.
The report said: “However, the use of the market hall has remained very low and, despite the commitment of individual traders within the market, it is not performing as a commercially viable space. Many of the traders are also dissatisfied with the market’s performance, and at present there is a high level of rent and service charge arrears owed to the Council.”
The report said: “The market currently costs Liverpool Council just under £1m a year to subsidise, which is an unsustainable financial position at a time when council services are under significant pressure. The council will now discuss with traders how arrears can be recovered and what assistance can be offered to each trader.
He said: “We do need to address this where we need to start working with traders to start seeing how arrears are paid. We need to start that stage of the conversation.
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