Mansfield market losing money two out of five days – as trading reduced from five days to four

In 2016, the market reduced its trading days to five, from Tuesday to Saturday, due to a decrease in stall numbers.

A report that will be presented to a Mansfield Council committee next month indicates that the market is still finding it difficult to break even on some days. It costs the council just under £11,000 per day to operate the market.

However, it only generates income of £9,000 and £7,000 on Tuesdays and Wednesdays respectively.

Fridays and Saturdays are most popular, making £18,000 and £16,000 for the council, with Thursdays also breaking even.

The council’s cabinet has previously discussed reducing the market days even further.

Sarah Troman, the head of neighbourhood services, wrote in the report: “The market is a challenge as the feedback from resident is that they support the provision of a market in Mansfield, but despite low stall rents over the last few years, there has been a shortage of new traders taking stalls on the market to replace some of those who have retired.

“The investment in the public realm, and close working with partners to address any anti-social behaviour issues in the area will ensure the space is as welcoming and attractive as possible for shoppers, visitors and traders, to ensure the market remains viable into the future.”

Market traders were consulted about the problems in the spring, and suggested that a charge for traders’ parking or maintenance fees were introduced.

However, the council estimates this revenue still wouldn’t be enough to support a five-day market.

Other traders suggested that Tuesday was dropped as a market day and traders be encouraged to move to Wednesday.

The report adds that there is little support from traders to move to an indoor location as this would have less passing traffic than the Market Place.

Rents currently range from £11 to £23 per day, with discounts for multiple stalls.

A council spokesperson said: “The ongoing growth of internet shopping, supermarkets, retail parks, and large out-of-town shopping centres has had a significant detrimental impact on markets nationally, with most markets seeing a decline in stall numbers and/or trading days.

“To ensure the best delivery of service and spending of public money, the report going to overview and scrutiny committee (place) on September 3, show that the operating costs and income from Tuesday and Wednesday trading are at a significant loss to the council.

“To meet the savings as set out in the medium-term financial plan 2024–2027, the full council approved the decision in January to reduce the market budget, which has subsequently reduced the number of days the market is open (five days to four).

“This decision has been taken with full consultation from traders and will be reviewed annually, taking effect from October 1, 2024.”

The issue will be discussed at the council’s overview and scrutiny committee on Tuesday, September 3.