September 6, 2022 4.31 pm This story is over 21 months old

Grantham market losing ‘phenomenal amount of money’

‘Something needs to be done urgently’
Grantham is South Kesteven's biggest loss-making market | Credit R.S. Mortiss

Questions have been raised over the cost of Grantham market, which makes a loss of £84,000 a year.

A South Kesteven District councillor described it as a ‘phenomenal amount of money’, and asked how long it would be possible to continue.

While Stamford market is oversubscribed and thriving, the council-run market in Grantham isn’t seeing the same level of success.

Bourne market also makes a £4,000 loss, while Stamford is £24,000 in the black.

Councillor Virigina Moran, a member of Alliance SK, asked the culture scrutiny panel: “Why on earth are we paying £84,000 for a market in Grantham? It is basically being subsidised by all the other towns.

“That’s a phenomenal amount of money to throw at a market. What happens when it reaches £100,000?”

She said that by contrast: “Stamford market is very popular – I know from experience it is very difficult to get a space, there is always a waiting list.”

She urged for common sense savings to be found in Grantham.

Stamford market is continuing to flourish

Independent Councillor Paul Fellows said: “Stamford market will always be successful because of its location and the clientèle it serves. It will always be the jewel in the crown.

“It would be remiss not to look at Grantham market’s losses and say we don’t need to do something urgently.

“Do we cut it down so it becomes affordable or something more drastic? These losses aren’t sustainable.”

Grantham market’s deficit fell during the pandemic as staffing levels were cut back, but are now at a three-year high.

The overall cost to run South Kesteven District Council’s three markets was £64,720 for the last year.

The committee agreed that the promotion of the markets was reviewed immediately.

However, councillors said it was too soon to throw money at outside professional advisers before market holders had been consulted.

The committee was told that there had been efforts to encourage stallholders on Stamford’s waiting list to trade at Grantham or Bourne instead, but these hadn’t be successful.

There was also discussion of whether Stamford’s market could be extended further down the high street to take advantage of its popularity.

Most of its 88 pitches are currently occupied on a Friday market.