Time Out Group has been forced to scrap plans to open a market in London’s Spitalfields in after the Tower Hamlets Development Committee deferred its decision on its planning application.

However, the group, which had also been forced to withdraw its plans for a market at Waterloo in 2021, said it remained focused on its strategy of opening markets both in the UK and globally.

The media group had been planning to open at 106, Commercial Street, with the opening originally planned for 2023, but has now confirmed it no longer wishes to proceed with plans for the development of the site.

“This is disappointing as we were looking forward to bringing our food and cultural market with its positive contribution – including new jobs, opportunities for local talent and benefits to the local economy – to this London borough,” a spokesperson for the group said.

“It is regrettable that, although recommended for approval by planning officers, the Tower Hamlets Development Committee chose to defer its decision on our application in 2022 after a process which has already taken several years and during which we addressed all prior concerns.

“With an expectation of the process being drawn out by further delays we have decided to no longer proceed with our application but focus our resources on other opportunities.”