'Critical financial situation': Edmonton Downtown Farmers Market considering closure, bankruptcy

There are likely only two weekends left of the Edmonton Downtown Farmers Market, as its board of directors ponders shutting down and declaring bankruptcy.

Market officials made the revelation in a social media post Friday afternoon. A Jan. 27 special meeting has been called to discuss the situation and let vendors vote.

"The organization cannot meet its current financial obligations, especially the high operating and utility costs in the 113-year-old building during the winter," the statement said.

According to the statement from the Edmonton Downtown Farmers Market Association, it and the City of Edmonton have agreed not to renew the lease on the building located at 10305 97 Street.

The market moved into its indoor, year-round location in 2019, but now the board is recommending vacating the building after the market closes on Jan. 28.

Market manager Elaine Doucette believes that's what will happen, unless someone with "deep pockets" swoops in to save it.

"We will have our final days and the Edmonton Downtown Farmers Market, 120 years of being a non-profit entity, will come to an end," she told CTV News Edmonton.

"We had 250 vendors moving in, we're at 60 now. So that was a slow decrease, but it went to half within a few months after the pandemic hit."

Doucette said foot traffic in the building has also been in steady decline.

She said they've reached out to sponsors, fundraisers and the city to try to solve the issues, but have been unable to improve their books.

Vendor Caitlyn Elliott has only been part of the market for a couple of months but said it would be sad to see it go.

"This is a fantastic market. The vendors here are amazing. There's a really strong community here. We all help each other and promote each other's businesses," she said.

"Please come buy my stuff so I don't have to move it. And so I can pay off all the debts that I owe."

Elliott plans to run her Good Thymes Garden booth at the 124 Grand Market in the summer.

The board said it supports ongoing efforts to return a market to the 104 Street area but is unable to take part in that "due to its financial position."

The market will be open from 9 a.m. to 3 p.m. on Saturday and 11 a.m. to 3 p.m. on Sunday for the next two weekends.