Stallholders had said they were left out of pocket after Essential Edinburgh cancelled the November 1 Castle Terrace market at the last minute.

Following the cancellation of the event, city leader Councillor Jenny Dawe had called on the company to consider assisting traders with the unforeseen costs incurred.

But today, Essential Edinburgh's new chairwoman Jane Wood said she had met traders, agreed to refund pitch costs for the day, and cancelled any pitch price increases that normally happen around the festive season.

"They know how committed we are to work with them," said Ms Wood. "Of course it was unfortunate what happened but we have to look ahead now.

"It is about respecting them, knowing their business and helping them to promote their business."

The event was cancelled after Essential Edinburgh found it did not have a licence to run it and had not held one since taking over the duties of Edinburgh City Centre Management Company following approval of the BID in May.