A MULTI-MILLION pound markets buyout has collapsed as traders have ousted their leader.

Mr Malcolm Lee, chairman of Bury Open Market Traders Association (BOMTA) and the man who launched the bid, has been deposed.

Angry at refurbishment plans for the market, he was determined to enlist his colleagues' support and take control of their futures from their council landlord.

But the new chairman of BOMTA says the outdoor market traders want nothing to do with a buyout and support the renovation plans.

The schism started with controversy over a £5 million refurbishment plan for the market, for which Bury has been given nearly £3 million from the government.

Part of the deal involves selling the existing fish and meat hall to town centre developers MEPC, and creating a new hall on the site of the old Nat West Bank in The Square.

This annoyed Mr Lee and some outdoor traders, who thought the site would "plug" the market, and they then launched a buyout bid.

But Mr Adrian Christian, the new chairman of BOMTA, said the vast majority of the traders disagreed with that option. "Only four people are happy about buying the market, the other 170 are against the sale, and therefore we decided to elect a new chairman at our annual meeting," he said.

"I felt there was a lot of uncertainty around the market, it would be a shame for us to lose out with the town hall in negotiations about the market."

Mr Christian said it was important to stay and influence the outcome, rather than be on the outside.

"We've got to fight to make sure we get what we started out for two years ago, and we've got what we wanted to a degree," he said.

"The council is trying to please everyone which is an impossible job. I don't think it's the best site for the new fish and meat hall, it doesn't do a lot for the Murray Road end which is suffering, but the committee feel it's the best of a bad lot."

But the matter may not be over yet.

Local solicitor Mr Bryan Slater, engaged to co-ordinate the buyout, says he is still being instructed by Mr Lee and three others to press ahead.

He confirmed that they were meeting the National Federation of Market Traders within the next fortnight and may set up a rival group to proceed with a buyout. Mr Slater said the Federation seemed "very, very interested" in the proposals: if successful, a buyout in Bury would have countrywide implications.

Council bosses say the market, which brings £600,000 profits into town hall coffers every year, is not up for sale although they will consider any application to buy it.

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