Traders on a market in Beaumont Leys that was due to close next month have been told that the market can remain open until the end of the year.
The city council announced last month that Beaumont Market would close on 3 September in light of current and predicted trading losses.
But now City Mayor Peter Soulsby has decided that the market should remain open until after the busy Christmas shopping period.
It will now close at the end of trading on Sunday 31 December.
The City Mayor said: “I listened to the traders' concerns and became aware that many of them had already invested significant sums in their Christmas stock.
"It therefore seems fair to keep Beaumont Market open until the end of the year, so the traders don't miss out on the busy Christmas trading period.
“Our markets manager has already called most of the traders to let them have the good news.
“I hope that this extended period of notice will give the traders more time to plan for the future.”
Changes in shopping habits and declining customer numbers have resulted in fewer stallholders and a reduction in the income needed to give the market a viable future.
Just 15 traders currently operate from Beaumont Market.
The council is looking at options for selling the land on which the market operates, which is next to Beaumont Leys Shopping Centre.
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