Traders at the famous Botany Bay shopping mill have been given notice to leave in order to make way for a New Botany Bay Outlet Village.

The owners of the mill say it is simply not ‘economically viable’ to repair the crumbling building which dates back to 1855, which has been earmarked for redevelopment.

Mill bosses say they will work with the local authority and local landlords to try and find alternative accommodation for the tenants and stallholders.

The decision comes after owners Acepark Group carried out an operational review back in October.They have confirmed plans to close its Botany Bay business after a further three months of trading.

They added: “This was an extremely difficult decision to make and we realise that it will be devastating news for our stallholders but the Operational Review has concluded that it is not economically viable to make extensive repairs to a building that is earmarked for redevelopment.

A spokesperson said the mill will close in February 2019 to allow ‘development-enabling’ works for the new Botany Bay Outlet Village to proceed.

The mill will continue to trade for the next three months, during which time we will work closely with Chorley Council, local employment agencies and property landlords to give our colleagues, tenants and stallholders the best possible chance of securing alternative roles and locations.”

Plans to refurbish the existing mill into shops were approved earlier this year. They also include 288 homes.

Land close to the Leeds and Liverpool Canal is also due to be redeveloped for retail and residential use