London Will be a Different Place Without Smithfield and Billingsgate

The impending closure of Smithfield Meat Market and Billingsgate Fish Market by 2028 threatens to upend London’s restaurant and catering industries. For centuries, these markets have been the cornerstone of the capital’s food supply, offering volume, consistency, and accessibility to chefs and caterers. Their loss will force businesses to navigate a fractured supply chain, with smaller suppliers unable to meet the same demand.

Smithfield and Billingsgate handle a combined 125,000 tonnes of fresh meat and fish annually. These centralised hubs are irreplaceable for high-volume buyers, especially caterers serving banquets in hotels, large-scale events, and institutional dining. Without these markets, the logistics of sourcing fresh produce in such quantities will become significantly more challenging and costly.

A Shift Towards Smaller Suppliers

For restaurants, the closure of these markets may push them towards sourcing from smaller local suppliers. While this shift could enhance sustainability and the use of regional produce, it comes at a price. Smaller suppliers often lack the capacity to deliver the volumes required by larger establishments, and decentralised sourcing means higher transportation costs, logistical complications, and rising prices for fresh produce.

The Real Losers: Caterers

Caterers who rely on bulk purchases to serve hundreds or thousands of guests at a time will bear the brunt of this disruption. Hotels hosting weddings, conferences, and large-scale events depend on markets like Smithfield and Billingsgate to meet their daily needs. With no single replacement facility, these businesses will be forced to source from multiple suppliers, leading to:

• Higher Costs: Fragmented sourcing will increase costs for transportation, labour, and intermediaries.
• Inconsistency: Maintaining a consistent quality of meat and fish from multiple smaller suppliers will be significantly harder.
• Reduced Profit Margins: Caterers already operating on tight margins will struggle to absorb the increased costs, potentially leading to higher prices for clients or reduced profitability.

Michael Dutnall, Executive Chef at The RAF Club on Piccadilly commented:
“This, of course, is a huge loss to the industry. What is equally scary is the fact that the plans to relocate the meat and fish markets have been scrapped entirely. This will naturally drive down diversity in products, leaving independents unable to hold volume and variety in stock.”

The Bigger Picture

The closure of these markets signals the end of an era for London’s culinary infrastructure. While the City of London Corporation has framed the decision as an opportunity for traders to “transition seamlessly” to new premises, no viable centralised alternatives have been proposed. This leaves the industry in a precarious position, with decentralised sourcing likely to reshape how food is supplied to London’s kitchens.

For smaller restaurants, the shift to local suppliers could present new opportunities to celebrate regional produce, but for high-volume buyers, the reality is stark. Without a centralised market like Smithfield or Billingsgate, London’s catering industry may face rising costs, logistical challenges, and a diminished capacity to serve large-scale events—profoundly impacting the city’s ability to host global gatherings and maintain its reputation as a culinary capital.

As the countdown to 2028 continues, London’s food industry faces a reckoning. The question now is how chefs and caterers will adapt to a fragmented supply chain in the absence of these historic markets—and whether the city can retain its position as a hub for exceptional dining and hospitality.