Market owners to set up fire fund

About 90 stalls were damaged in the fire

The owners of Camden Market said they will set up a fund to help stallholders after a devastating fire.

Camden Market Holdings announced that they plan to financially assist traders affected in the north London blaze on Saturday night.

London Mayor Ken Livingstone, the London Development Agency and Camden Council have announced they are working on a rescue plan for small businesses.

The owners promised £2 for every £1 committed by the mayor's recovery fund.

New development

The company will also discuss moving traders who have lost their stalls to the new development at Stables Market, across the road from the site of the fire.

The development, which is due to be finished by the end of the year, could be the quickest way to accommodate the affected stallholders.

As many as 100 firefighters fought to tackle the blaze on Saturday night.

In all, 90 stalls were damaged, 35 of them extensively. In addition, six shops and The Hawley Arms pub were affected.

Rent-free periods

It is thought more than 300 shop and stall employees could be at risk of losing their livelihood.

A statement from Camden Market Holdings said: "The market owners are working with Camden Council on the way forward to re-establish the Canal Market.

"When this has been achieved, the market owners will then work with traders to re-establish their businesses, offering assistance with substantial rent-free periods and designing and re-building their units at no extra cost."

A temporary office will be opened by Camden Market Holdings to provide advice and support to traders.