London's Historic Smithfield and Billingsgate Markets Set to Close

London's historic Smithfield Meat Market and Billingsgate Fish Market, both dating back to the 11th century, are set to close by 2028 as the City of London Corporation has decided to end its operational responsibilities. The closure comes after plans to relocate the markets to a new site in Dagenham were scrapped due to soaring costs, estimated at around $1.25 billion. Instead, the Corporation will provide financial compensation and guidance to traders, allowing them time to plan new locations. Smithfield, known as the world's oldest meat market, will be transformed into a mixed-use cultural development, housing the new London Museum and various retail spaces. While traders express sadness over the loss of these iconic markets, they will continue operations until the closure, seeking to relocate to new premises across London. This transition marks a significant change in London's market landscape, diminishing the historical significance that these institutions have held for centuries.