THREE Rossendale markets have been given a stay of execution after council bosses admitted they had got their figures wrong.

Coun Tony Swain, leader of Rossendale Council, has now said that Haslingden, Rawtenstall and Bacup markets will not close for at least 12 months.

Haslingden Market had been set to shut in June unless traders could form a social enterprise to take it over themselves.

Traders at Rawtenstall and Bacup markets had also feared for their futures, although no plans had been announced to shut the markets.

Coun Swain said: “Some of our figures were slightly out and we can’t make a decision with wrong information.

“We will spend the next 12 months scrutinising costs more and seeing if we can make any savings around the markets.

“We don’t want to close any markets if we can avoid it.”

The future of the markets had come under the spotlight after it was revealed the three made a combined loss of around £100,000 last year, as the council bids to save £3million over the next four years.

The only alteration to the running of the markets this year will be the closure of Friday’s Bacup Flea Market, which will save the council £3,226.

Coun Swain said: “We will continue to consult with traders and see what we can do.

“We will also continue to work with traders in Haslingden to try and set up a social enterprise for them so they can run the market if needs be in 12 months time.”