DERRY — The Grandview Flea Market has shut down after four decades.

The closure is part of a legal settlement with Coach Inc., one of world's largest fashion accessory companies.

The flea market, a staple on Island Pond Road, closed Sunday. Owner Martin Taylor of Salem agreed to close the business after Coach sued his company, Gata Corp., for allowing counterfeit merchandise to be sold at the flea market.

Coach filed the lawsuit in April 2010 as part of its "Operation Turnlock" campaign, according to Coach lawyer Nancy Axilrod.

The lawsuit did not specify how much Coach sought other than to say it exceeded $75,000, according to court documents. Axilrod could not be reached for comment last week.

The flea market's closing means vendors will have to find somewhere else to sell their wares on weekends.

"It's a disappointment," said Joe Lore, owner of Glass Pendants and More.

Lore has sold glass beads and jewelry at Grandview for eight years.

Unlike vendors who are trying to earn money to live on, "I do it more for fun," Lore said.

Although authorities have raided the flea market several times in an effort to stop counterfeit sales, Lore said he never noticed if other vendors were trying to sell fake merchandise.

He said he was too busy trying to sell his own items. Now, he said, he's not sure where he will sell his jewelry.

Taylor would not comment on the settlement last week, but his longtime girlfriend confirmed they were no longer allowed to operate the flea market.

The woman, who only gave her name as Cindy, said Gata was fined $2.2 million and the case has been a financial and an emotional drain for the couple. Martin, who ran the flea market for 31 years, also owns mobile home parks and apartment buildings.

She said Martin did his best to prevent counterfeit merchandise sales.

Martin has denied allegations he and his company knowingly allowed vendors to sell counterfeit goods. He put up a sign saying that no counterfeit items could be sold there.

Coach filed its lawsuit after a raid on the flea market June 6, 2009. Authorities seized 13,278 counterfeit items, including more than 7,500 with phony Coach emblems and designs.

Coach said the raid didn't stop vendors from selling knockoff merchandise.

Even after a stricter state law was passed two years to crack down on counterfeit goods sales, Derry police said they continued to arrest out-of-state vendors, including many from New York.

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