Splott Market in Cardiff is set to close after more than 40 years of trading.
The popular market will shut on March 31, with the site set to become the new home of Willows High School, which is moving from its current building in Tremorfa.
In a statement posted on Facebook, the operator of the market claimed that they had been expecting to stay at the site for another 18 months, but this has been dismissed by Cardiff Council.
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The council bought the site in 2021 and is currently renting it to Splott Market on a 12-month lease, allowing time for the organisers to relocate the market.
The council also remains open to the market returning to the site after the new school is built, according to a spokesperson.
A statement posted by the market on Facebook read: "It’s with a very heavy heart that I am having to write this but as most of you were aware, Splott Market was sold last year but we were told by the council we could still have it for the next 18 months, but we have had the worst news.
"The council have said that unfortunately we only have the market until the end of March 2022 - this has been a shock to all of us, to all that have rented containers from us they need to be empty by the end of February.
"From the bottom of our hearts we are genuinely sorry that it’s such short notice but unfortunately this is out of our hands."
"On a different note, we would like to thank each and everyone one of you traders and customers for all ur (sic) wonderful support and commitment over the many years that Splott market has been running, but unfortunately all good things come to an end.
"So here’s to the traders, the customers, to the many friendships that have been made over many years in the little community that we have all made together, to laughter and the many ups and downs.
"We are eternally great full (sic) and these memories that will last for years to come. So from us to you, all the best for the future. Here's to the end of one hell of an era."
The market has been contacted for further information.
A spokesperson for the council said: “The number of traders at Splott Market has decreased in recent years and many have not returned after the pandemic.
"As part of the acquisition of land at the site, the council granted a 12 month lease to allow time for any remaining traders to relocate to alternative trading premises.
"The former owner of the market has written to all traders to determine if there is an appetite to relocate the market and if there is enough demand, the council will provide support to find an alternative location.
"The council is also open to the operator returning to the site once the school is constructed."
The new school - which is moving just over a mile down the road from its current ageing building, is planned for three sites off Lewis Road, including the current market site.
Last summer, a consultation sought feedback from the public on the plans for the new school. More than 200 responses were received which generally supported the plans, but some raised concerns about the relocation of the school, as well as traffic and road safety.
Councillor Sarah Merry, cabinet member for education, employment and skills, said: “A new home for Willows High School represents a significant investment in the local area, providing considerably improved educational facilities in a brand new school, as well as excellent amenities accessible to the whole community.
“The views of local people will play an integral part in the scheme and it is promising that so many responses received have been in support of the new school development. The public engagement asked for views on what should be taught at the school and how it should be delivered.
“Responses supported a focus on collaborative working with a wide range of industry partners, allowing pupils to benefit from a rich curriculum which delivers ‘real world' learning opportunities, inspiring them and helping to develop their skills to be resilient, innovative and problem solving learners."
“The report also identifies a host of community benefits on offer including access to state-of-the-art, modern facilities, ICT and integration with city partners and businesses.”
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