Smithfield Market is closing, with operations set to end by 2028, primarily due to the City of London Corporation abandoning a £1bn plan to relocate the historic meat market to Dagenham. The decision was driven by soaring construction costs, inflation, and a desire to repurpose the site as part of a wider redevelopment, including the new Museum of London.
In a surprising turn of events, the world-famous meat and fish markets might not actually be closing down for good. Phew. The City of London Corporation voted to withdraw its support for the 850-year-old markets in November 2024, meaning they would have to shut forever by 2028.
The markets will continue at Smithfield and Billingsgate until at least 2028, giving time for Traders to plan and smoothly transition to new sites, subject to the Bill being passed. The markets will be known as New Billingsgate and New Smithfield respectively once they relocate.
A Smithfield Foods spokeswoman said that the smokehouse had reached the end of its useful life and that the company has plenty of genuine Smithfield hams stockpiled to satisfy immediate demand.
Smithfield meat market, near St Paul's Cathedral, and Billingsgate fish market in Canary Wharf are to be closed after the City of London Corporation voted to withdraw support for them. The Corporation said it would now work with traders to help them find alternative premises.
Historic London Markets To Close: Smithfield & Billingsgate Could Shut After Centuries Of Trading
Who bought out Smithfield?
Smithfield's Chinese Ownership, Explained
But in 2013, WH Group, formerly known as Shuanghui International Holding Limited, one of China's largest meat producers, purchased Smithfield outright for $4.7 billion.
On December 3, 2025, Albert Island at the Royal Docks was announced as the new preferred site to co-locate Smithfield and Billingsgate Markets. These markets will become known as New Smithfield and New Billingsgate Markets.
Smithfield closed a plant in Vernon, California, and another in Charlotte, North Carolina, in 2023. It also stopped slaughtering pigs at its hometown plant in Smithfield, Virginia, in 2021. The company is not alone: Tyson Foods (TSN.
Smithfield Foods is acquiring Tyson Foods' hog production operations for three million shares of stock worth about $80 million. Tyson's Pork Group Inc. has roughly 110,000 sows in the Midwest and North Carolina.
Smithfield was almost a city within a city – and one with its own hours. To give customers time to buy and prepare their meat for sale the same day, the market opened at night.
Smithfield Foods, Inc., is a Chinese-owned pork producer and food-processing company based in Smithfield, Virginia. Founded in 1936 as the Smithfield Packing Company by Joseph W. Luter and his son, the company is the largest pig and pork producer in the world.
There has been a food market around Smithfield – close to Farringdon train station – for more than 800 years. Two buildings on the site are being redeveloped, and the London Museum is scheduled to open there in late 2026.
But this experiential landscape can easily be disrupted. The announcement by the City of London Corporation in November that Smithfield market is to close after almost 900 years of trading has been met with surprise and dismay. Many Londoners fear Smithfield's special sense of place will be lost for good as a result.
Yes, absolutely! Anyone can shop at London's historic Smithfield Market (and Manchester's New Smithfield Market), not just trade buyers like restaurants and butchers, but the general public can buy meat, poultry, fish, and produce, often at better prices, though you'll usually need to buy in bulk and be prepared for an early start.
Smithfield Foods has an employee rating of 3.1 out of 5 stars, based on 1,273 company reviews on Glassdoor which indicates that most employees have a good working experience there.
Billingsgate Market (and Smithfield) is closing because its current site is outdated, inefficient, and causes congestion, with plans for relocation to the Royal Docks in East London scrapped due to soaring costs, leading the City of London Corporation to halt support and plan permanent closure, though a new site may yet emerge, with current operations continuing until at least 2028.
In 2025, 68% of London leavers stayed in the South of England (South East, South West or East of England) – the highest proportion since 2021 and up from 62% in 2024. This marks a reversal of the pandemic and then affordability-led trend that pushed buyers further into the Midlands and North.
Who is the largest shareholder of Smithfield Foods?
As of April 2025, WH Group, a publicly listed entity on the Hong Kong Stock Exchange (HKEX: 0288.HK), maintains substantial control over Smithfield Foods. WH Group beneficially owns nearly 93% of Smithfield Foods' outstanding shares, solidifying its position as the primary Smithfield Foods owner.
The poshest supermarket in the UK is generally considered to be Waitrose, known for premium products, quality, and organic options, followed closely by Marks & Spencer (M&S) for its food halls and prepared meals, while luxury food halls like Fortnum & Mason and Harrods offer an even higher-end, but less typical, grocery experience, with regional favorite Booths in the North also considered very high-end.
The best sausage brand in the UK depends on preference, but top contenders often include Wicks Manor (UK Supreme Champion), supermarket favourites like Sainsbury's Taste the Difference, Lidl Deluxe, and Asda Exceptional, premium options like Heck and The Jolly Hog, and butcher-quality brands like Richard Woodall; while local butchers are always a great bet, these brands consistently win awards and reviews for quality and flavour.
