The council has taken over control of Watford Market from previous operator TCM this week, following reports of the company’s escalating financial difficulties.
Moving quickly, we took over management of the Market given the risk of TCM becoming insolvent, meaning the Market will continue to trade as normal.
Elected Mayor of Watford Peter Taylor said: “The council has acted swiftly and decisively to guarantee the future of Watford Market by stepping in to take control of it. TCM was clearly having severe financial difficulties and we wanted to make sure that the market is protected. This means that the traders and visitors to the market can carry on as normal.
“Day-to-day, neither traders nor customers will notice any difference. We have short-term measures in place for the management of the market and the council is putting in place interim arrangements with an alternative management company. In the meantime, we will make sure traders and residents are regularly updated.”
We have put in place plans to continue managing the Market for a short period of time and we are recruiting an interim market operator to take over. Our main aim is to ensure that Watford Market traders can continue to provide their valuable services to the town for the long-term. Watford is traditionally a market town and we intend to keep it that way.