The corporation, which owns and operates the central London site of the centuries-old market, had this month put on hold relocation plans to a new £1bn site in Dagenham to review the "financial sustainability" of the planned move.
The Court of Common Council, the main decision-making body for the corporation, voted yesterday to pull out of running the sites.
A market has existed around the Smithfield site for more than 800 years. The corporation was given the right to run it and other wholesale food markets in 1327 by Edward III.
The current market site was built in 1868, designed by the architect Sir Horace Jones, who also designed Billingsgate when it was redeveloped in the 19th century. The UK's largest inland fish market was moved to its current site in Poplar in 1982.
The corporation said it would provide compensation to traders, who will be able to continue their operations at the markets until at least 2028. Compensation could total more than £300m, according to the Times.
Bu hikaye The Guardian dergisinin November 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Guardian dergisinin November 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Wales failing to take action on 'alarming' loss of nature, inquiry finds
The Welsh government is failing to halt the \"alarming\" decline in nature, putting cherished species at risk, a report from the Senedd's cross-party climate change, environment and infrastructure committee says.
Everton feast on abject Spurs as spotlight falls on Postecoglou
The defiance came far too late. Whether it was the two goals that gave a glimmer of respectability to Tottenham's latest defeat or Ange Postecoglou's belief in his ability to arrest a decline, their fightback was futile.
Calls for action against string jellyfish threat to Scottish salmon farms
A jellyfish species that has been wreaking havoc on Norway's salmon industry has made its way to Scotland, causing significant damage and prompting calls for urgent action.
Onana howler and Brighton's brilliance rock sorry United
On a sombre afternoon graced by a piper's rendition of Flower of Scotland and a poetic tribute to the great man, Manchester United went down dismally in their first game since Friday's passing of Denis Law.
Video sharing app clocks on again for US users as Trump promises reprieve
TikTok has moved to restore its services in the US after Donald Trump pledged to give the Chinese-owned video sharing app a reprieve on a ban that briefly saw it stop working for 170 million users.
This fragile truce appears structured to invite multiple crises as it edges forwards
'This is not a deal that Netanyahu wanted; he was forced into it by Trump, who insisted there'd be \"hell to pay\" if the fighting did not stop'
The theatre of tears: fans pay emotional tribute to the 'King'
Old Trafford is united in grief and celebration as supporters come together to honour club legend Law
'After so much pain' Biden hails deal and says Trump must show persistence
Joe Biden has said it is now up to Donald Trump to help ensure the success of the ceasefire deal their teams jointly brokered, warning the incoming US president it would require \"persistence\" and \"the belief in diplomacy backed by deterrence\".
Incapacity benefits system needs urgent reform, peers warn
Labour must carry out a root-and-branch overhaul of the UK's incapacity benefits system if it is to rein in rising health-related welfare spending, an influential cross-party Westminster committee has warned.
The trust has gone' Voters look to Reform in Labour stronghold
At the same time as Nigel Farage was touring US television studios before the inauguration of President Donald Trump, his face was almost as unavoidable in a quiet Cheshire market town more than 3,000 miles from the White House.
