Meat Management understands that the long-term plan for both Smithfield and Billingsgate Market’s move to a site in Dagenham by 2028 has been put on hold by The City of London Corporation.
A spokesperson for the Corporation said that whilst the move had not been cancelled altogether it was suspended “in order to determine its next steps and to ensure the financial sustainability of the project.”
It also added: “The options arising out of that review, including any financial considerations are currently progressing through our governance framework.”
In the past The City of London Corporation had estimated that the new market would require a £1billion investment and create up to 2,700 jobs, in addition to delivering £14.5 billion to the UK economy by 2049.
Havering Council had previously objected to the move based on an ancient law that prevents markets being set up within a day’s sheep drive of Romford Market.
