Traders in Brixton’s covered markets have been left in confusion today, after news that former owners InShops has gone bust.
InShops Centres Ltd, owned by French firm Groupe Geraud, announced on Wednesday that it will cease trading today, and many of its centres will close.
But it has emerged that Brixton Village (Granville Arcade) and Market Row markets were transferred to a separate company, Market Village Company Ltd, late last year. The markets’ manager today moved to reassure traders.
Operations manager Rachid Ghailane told the Blog: “The traders in Brixton Village and Brixton Market Row have nothing to worry about. They are now run by a new company, Market Village Company Ltd, which has been established and is in charge of the markets.
He added: “Yes, Inshops Centres Ltd has gone bankrupt, but it’s nothing to do with us in Brixton.”
Companies House Ltd records showthat Market Village Company Ltd, which now runs the covered markets, was called Inshops Ltd until an official change of name in July 2013. It is registered at the Group Geraud office and its three current directors are all senior executives at Groupe Geraud Ltd. Its parent company is listed as Geraud SA.
Traders spoken to by Brixton Blog today said they had not had any contact from InShops, market managers or Group Geraud about the changes. They were alarmed when they read reports online about other retail centres closing down as a result this week.
Binki Taylor, co-owner of Circus in Brixton Village, said: “We don’t know exactly where this leaves us and we would like to know. No-one has been in contact to explain things and we’d like to know how we’ll be effected by it.”
Head of property at Geraud UK, Philip Lamb, said: “The covered markets at Brixton are no longer associated with In Shops Centres Limited and are totally unaffected by the imminent liquidation of that company.”
EDIT: Comment from Philip Lamb added at 12.55pm Friday.