There are financial worries about the company tasked with managing Chester Market ’s move into a brand new building as part of the £300m Northgate Development.

Cheshire West and Chester Council (CWaC) has a three-year £400,000 contract with WMC Retail Partners Plc which has suspended trading in its shares, is seeking to raise additional funding and postponed publishing its half-year results.

But CWAC appears unconcerned about its vulnerability in relation to WMC saying the company is hired on a consultancy basis and paid in arrears for work carried out in advising the council.

The new Market Square as part of the Northgate Development – looking towards the market and cinema, with the Storyhouse cultural centre to the right

WMC, which can trace its history back to 1244, also runs markets in places including Shrewsbury, Reading, Luton, Hull, Cornwall and London.

Cllr Brian Clarke , cabinet member, economic development and infrastructure, said: “WMC are the council’s specialist market advisors and are employed through a three-year contract to provide help, advice and support in the council’s efforts to create a fantastic new market in the heart of Chester Northgate. WMC is currently in discussions with a number of parties over the provision of additional finance and/or refinancing options.

Cllr Brian Clarke
Cllr Brian Clarke

“WMC does not operate any of Cheshire West and Chester markets and the financing options do not impact on the work they are currently undertaking for the council which is on a consultancy basis in relation to the relocation to the new Chester Market. The company is paid by instalments, in arrears for work carried out in advising the council.”

The council explained more about its £400,000 contract with WMC earlier this year when it was queried on Twitter .

In a statement, CWaC said: “The council has procured market experts to assist it with the design and relocation of Chester Market as part of the £300 million development of Chester Northgate. The market is an intrinsic and important element of the development and includes relocating as many of the existing market traders as possible.

Clare Huber, CWaC's senior construction manager and Andrew Sparrow of WMC Retail on the site of the proposed new market square at the rear of Chester library
Clare Huber, CWaC's senior construction manager and Andrew Sparrow, chief executive of WMC Retail, on the site of the proposed new market square at the rear of Chester library

“The contract is awarded over three years with annual renewals and the value quoted is for the full three years. The first part of the consultant’s work is to support the council in the public inquiry for the market relocation which is likely to be conjoined with the inquiry for compulsory purchase order and the highways stopping up notices.

“The expertise from the consultants enables the council to learn from other successful market projects and to ensure that the design that emerges meets the needs of the tenants and fits with the overall objectives of the new development. The work was procured in full accordance with the council’s financial procedures following a European Directives procurement process.”