The heart of Wanniassa's shopping precinct is breaking as The Markets Wanniassa announces it will close its doors permanently in February 2026, ending almost a decade of serving the local community with handmade Australian products.
A Community Hub Falls Victim to Economic Pressures
Owner Fiona Lester made the difficult decision to close the family business after struggling with multiple challenges that made continuing unsustainable. The shop, located opposite Coles at the Wanniassa shops, has been a beloved destination for both shopping and social connection since it began as a pop-up store in December 2016 before establishing a permanent presence in March 2017.
The final day of trade will be February 15, 2026, marking the end of an era for hundreds of local artisans who sold their products through the store and the loyal customers who made it part of their regular routine.
Three Key Factors Behind the Closure
Fiona identified three major pressures that ultimately forced the closure. Unable to negotiate reasonable rent with her landlord was the first significant hurdle. Combined with rampant shoplifting that has become increasingly brazen, and falling disposable income among her customer base due to cost-of-living pressures, the business became unviable.
"I had a guy last week - I was at the counter serving someone - and he was at the front of the shop and took something from the rack and put it in his bag," Fiona revealed. "I didn't see it. Coles saw it, and they came and told me. It's so bad."
She also noticed an immediate impact on spending patterns whenever interest rates changed. "As soon as they go down, we are busy within the hour. That's what it feels like, almost instantly," she said. "And when there's not a decrease in interest rates, it's almost like people seize up."
Family Business Built on Community Connections
The Markets Wanniassa has been a true family enterprise from the beginning. Fiona and her husband James started the business together, earning the nicknames Mr and Mrs Market. Their three youngest children - Olivia (20), Matilda (17), and Eddie (15) - all helped in the store, initially known as the Mini-Markets. Olivia now serves as store manager.
When reflecting on what she'll miss most, Fiona didn't hesitate: "the community 100 per cent." She explained, "All of the connections, all of the people, I will really miss that. I think that's the hardest thing I'll have to get used to."
The store became known not just for its handmade products and Australian-made goods, but as a place for conversation and connection, with yarn and yarning both playing significant roles in creating its unique atmosphere.
Fiona admitted she kept the shop open longer than she probably should have specifically for the sake of maintaining that community space. While closing the physical store represents a final decision, she plans to continue selling homemade products in some form, noting "We're just working out what it's going to look like."
In the meantime, her overwhelming feeling is one of gratitude. "A huge thank you to our community for supporting us and helping make our business what it is and what it has been for nine years," she said.
