On Tuesday traders were told by owners Wendy Fair Markets the market would shut on September 6 because of spiralling rents.

But yesterday they all received letters from town centre owners Land Securities confirming it will now be operating the market for the foreseeable future, with traders paying rents directly to them at the same rates.

The rescue package will also see stalls revamped to improve the image for traders and the market brought into one area.

Corby town centre director Daniel Pickard said: "Following receipt of formal notice on Tuesday confirming Wendy Fair Markets will cease to operate from Corby on September 6, Land Securities will take over the operation of the market for the foreseeable future.

"We will do our best to try to ensure continuity in trading but due to the short notice, there may be some initial disruption.

"We are in the process of purchasing new stalls and as these have to be made to order, traders may have to provide their own stalls in the interim.

"When delivered, the new stalls will form a new layout to the existing market."

The news has come as a relief to market workers, who had expressed sadness at the proposed closure of the market, which was originally granted its charter by King Henry III back in 1226.

Greengrocer Michael Rollett said: "We were worried about and it was a shock to the system when we heard it might be closing, but this is really good news."

Stall owner Nigel Twells said: "We are all going to stay the same and we are very happy about that because we provide a good service here.

"All the people we have spoken to were gutted about it closing. Land Securities have been really good to us, within two days they sorted it out."

Florist Kylie Binley said: "It's great news that it is resolved."

The market operates in Everest Lane, New Post Office Square and in an alley off Corporation Street, but it is thought that once Land Securities takes over, all the traders will be working from Everest Lane.

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