Agenda item

Report of the Markets Director.

The Committee considered a report of the Markets Director providing an update on progress made during Period 1 (April-July) of 2021/22 against the Key Performance Indicators (KPIs) and key improvement objectives outlined in the Markets’ Business Plan 2021/22.

In response to observations and questions from Members, Officers advised that debts were high at Smithfield Market due to an embargo on lease forfeitures until 25th March 2022.  However, Officers were taking all possible measures to recover outstanding debt in line with the agreed debt recovery strategy.  Debt repayments plans were being negotiated and debt was gradually reducing.

A Member who was a trader at Smithfield Market reported that the closure of hotels and restaurants during lockdown had impacted on the cashflow of businesses and this was exacerbated by suppliers requesting earlier settlement of bills. 

RESOLVED – That the report be noted.