> The original market first traded in Lower Thames Street in the City in 1327, before moving to its current site in Poplar, east London, in 1982.
So the "850 year old" food market is actually a 42 year old market, and will likely continue to operate from a different location as it has done many times in the past.
No, this was a bit confusing. I think this may have been talking about Billingsgate, the fish market. Smithfields is a meat market, and has been at that site in one form or another for hundreds of years.
Edit, to help clarify as other comments also appear to get this wrong https://en.wikipedia.org/wiki/Smithfield,_London#Market
The market as an institution is 850 years old; the building that currently houses that institution is 42 years old. The market is not a place; it is the activity in which people engage in that place.
And no laws or legislation have been passed or proposed to close down said institution, is that accurate?
As far as I'm aware they do need an act of parliment to close it down. The one to create the market on the current site is an Act of Parliament (The Metropolitan Meat and Poultry Market Act of 1860) which should protect the site from becoming anything but a place to provide Meat & Poultry
They are in the process of absolving their legal obligation to continue operating the market.
So the market moved 40ish years ago, and now it has to move again, the institution is fine?
No, if you read the article, the City of London is washing its hands of having to relocate the institution at all.
> and will likely continue to operate from a different location
> The decision to close the markets and offer traders compensation was made by the Corporation's Court of Common Council.
It seems that they want to close the markets, not to move them
Apparently the plans to build the new market have fallen through