AN ACTION plan to protect Tavistock's award-winning pannier market from decline is to be drawn up after fears that it may lose its premier status.

The credit crunch is taking its toll on the market — but town leaders vowed this week to do all they can to keep both the pannier market and Tavistock a bustling hot-spot for shoppers.

The market is owned by Tavistock Town Council and run by a management committee, which over the past five years has doubled its turnover to £400,000 a year.

But there are concerns that if the economic downturn continues, income could slump by at least £80,000.

Deputy market reeve Mike Souttar said there was a noticeable decline in trader enthusiasm, caused in part by lower takings and by the constant barrage of economic gloom being proclaimed by the national media.

One Friday in August there were 24 tables empty, and while many were filled by substitutes, he said, there had never been another Friday in August when there had been any spare stalls beyond the cancellation of illness.

Mr Souttar said: 'If we bury our heads in the sand the problem will not evaporate and it is not the solution to just try and trim our outgoings to match the loss of income.

'We must do all everything possible to maintain our status as the premier market in the South West.'

Tavistock was on a roll when it won best market town in 2004 and two years later best food town.

Mr Souttar said the town needed to be packaged as a whole if it was going to improve the situation: 'I have been all over the country and Tavistock is one of the ten towns like Bakewell or Bourton-on-the-water which stands out — you go there and think this is nice,' he said.

'It is a gem and we are damn lucky to have it so we have to make the most of it.'

Mr Souttar has come up with more than 30 suggestions as part of a plan for action which was expected to be supported by members of the town council's town hall and markets sub committee last night (Wednesday).

They include utilising Bedford Square, outside entertainment, special events, loyalty card scheme and monthly best trader stands.

'Bedford Square is woefully underused — I know it is open to the elements, but seeing stalls out there grabs the imagination of the public,' added Mr Souttar.

He is also hoping to attract interest from the glossy magazines and wants to promote Tavistock as a place for television dramas as well as documentaries following the filming of Antiques Roadshow and Flog It.

Town councillor Brian Trew said it was no surprise to hear the market was struggling, as every commercial enterprise was feeling the pinch at the moment.

Cllr Trew said: 'Everyone is in the same boat but we need to take drastic action so we do not lose the profits that have been made in the last couple of years. The more money that is made from the market the less we have to collect in rates.'

Town mayor Robin Pike said the market belonged to the town, the council was just the custodians: 'It is up to us to do our best to keep the market viable and we all need to work as a team to do that.'

Deputy town mayor Mandy Govier agreed.

'We need to do everything possible to preserve the market because it is our main breadwinner and our main asset. We have to move with the times and that may mean some traders having to diversify,' she said.

Market trader Sue Sutton from SMS Shoes has decided to become part-time and get a second job to give her stability in difficult times, whilst Caroline Raw from All Sewn Up said she had had to adapt to change with the times, which meant dropping her prices.

She said this had, in fact, doubled her turnover: 'The craft industry is doing well at the moment because people are taking up traditional crafts again because money is tight and they cannot afford entertainment in the evenings,' she said.

Trader of five years Sally McCarter said people loved Tavistock pannier market.

Sally said: 'I have never heard a bad word said about it and people come here from Plymouth all the time because they cannot get the things in the city that they can get here.

'In the early days I thought about going into a shop but I am glad I didn't because you don't get the passing trade like you do in the market.'