Time Out Market in Montreal: Corona puts the brakes on expansion.
Actually, Time Out Group has been expanding with its market hall concepts for years. But the Corona pandemic has hit Time Out Markets hard too. In 2022, one should have opened in London Waterloo. But nothing will come of it, as the company now announces. On the other hand, the opening date of the Time Out Market in Dubai is set for April 7.
A statement from the company says: "Following recent media enquiries, Time Out Group confirms that its subsidiary Time Out Markets Central London
has informed London & Continental Railways that it no longer intends to proceed with the development of Time Out Market London (Waterloo)
due to the impact of the Covid 19 pandemic. "
The new Time Out Market
in the UK capital was scheduled to open
. As in other cities, the editors of the prestigious Time Out magazine wanted to attract 17 of the city's best and most interesting chefs to their indoor market. This curated selection of
represented concepts is a core principle of Time Out Markets worldwide. Time Out
secured the lease
for a two-storey property of just over 3000 square metres in 2018
, at which time food courts were going strong, particularly in London: A branch of Market Halls, the Arcade Food Theatre and Seven Dials Market had recently opened. The hip food courts were also seen by property developers as a good tool to raise the prices of a neighbourhood. But their competitors are also suffering badly from the Corona crisis. Most of the courts have closed.
About Time Out Market
In 2014, the leisure magazine Time Out started its international expansion with the debut of its indoor market concept: the Time Out Market in Lisbon, which was awarded the Hamburg Foodservice Prize in 2018 - a market for regional food, gastronomy and culture. With around 4 million visitors per year, the market is one of Portugal's tourist attractions. In 2016, it went public, raising £90 million. Currently, there are Time Out Markets in six cities: Lisbon, Miami, New York, Boston, Chicago, Montreal. More are planned in Dubai (2021), Porto (2022), Abu Dhabi (2023) and Prague (2025).