Councillors will be presented with an update report on the latest position on Lancaster Indoor Market when Full Council meets on September 12.
The indoor market is due to close on September 14, with many of the traders now having relocated to empty shops in Lancaster.
This paves the way for continued talks with the owner of the market building, Allied, with the eventual aim of securing a new future for the building that should bring more new life to the city centre.
Coun Jon Barry, Cabinet member with responsibility for markets, said: "The closure of the indoor market is a very sad occasion. However, I believe that it is important to look at the many future positives for the city centre.
“Many of the market traders who are relocating will greatly benefit the city centre by giving it an increased number and better mix of independent traders to complement the existing stores, as well as the Assembly Rooms and Charter Market.
"I personally want to wish all of the traders good luck and every success in their new ventures."
The update report to Full Council is exempt as it deals with sensitive commercial issues but a public minute will be made available after the meeting.
The market building was scheduled for closure on Friday 14 September. However the council became aware an event of some sort was being proposed to take place there sometime this week and without permission from the council. It was therefore agreed with the remaining market traders to close the building on Tuesday 11 September. Later detail then revealed the event was being organised for Tuesday afternoon and accordingly the decision was taken to close the market building at the end of trading on Saturday (8 September) to avoid any problems.
