London has a tradition for redeveloping its historical markets, and Smithfield would be the latest in a line of renovations, including Leadenhall Market and Covent Garden, both of which still stand on their medieval sites and mix original architecture and modern design.

WSJ: A Modern Plan for Historic London Market

The 37 stores that are affected by the latest round of store closures are: Ashford, Basildon, Bolton, Cheltenham, East Kilbride, Enfield, Folkestone, Glasgow Argyle, Gloucester, Grimsby, Hatfield Galleria, Heathrow Terminal 5 - Departure Level, Heathrow Terminal 1, Heathrow Terminal 3, Heathrow Terminal 4, Hemel Hempstead, High Wycombe, Isle of Wight, Lancaster, Leadenhall, Mansfield, Middlesbrough, Newbury, Newcastle Silverlink, Newport, Nuneaton, Redditch, Salisbury, Scarborough, Southport, Stafford, Staines, Stockport, Swindon, Taunton, Torquay and Woking.

BBC: HMV to close 37 more stores in UK