London

1042 readers

52 users here now

"who’d a thunk it"

For discussion about London including the surrounding Greater London area. Discuss all things from news, travel, culture, and general life around the capital and largest city of England!

Rules and other welcoming info can be found here.

founded 1 year ago

MODERATORS

Vinnyboiler

This popular indoor market in Stratford has been forced to close (www.timeout.com)

submitted 10 months ago by HeartyBeast@kbin.social to c/london

10 comments fedilink hide all child comments

The market was known for everything from groceries to clothing and electronics.

you are viewing a single comment's thread
view the rest of the comments

[–] Tweak 3 points 10 months ago (1 children)

We won't, I suspect this is a leveraged buyout. The purpose of which is usually to bring down a business by saddling it with debt. The motive is always obscure, but this being London I expect it's to do with property development.

[–] HeartyBeast@kbin.social 3 points 10 months ago (1 children)

Property seems a bit unlike when the market operates inside Stratford shopping centre.

[–] Tweak 2 points 10 months ago

You're probably right. I don't really know how this works, or any detail beyond the articles I linked and the Companies House information I pulled up about the business that owns the property. Hell, I'm sure if an actual accountant looked at the filings and my comments they'd quickly put me in my place over something significant.

I'd be interested in poking into the previous owners and the 2019 sale of the property, but I don't have any leads to start on that.