A cash bonanza could be on the cards for traders - thanks to hot-rod fans.

Braintree businesses could benefit after it was revealed the town has been officially named one of the planet's most famous venues for enthusiasts of hot-rods - made popular in the 1950s in America.

The town has become a big hit with the National Association of Street Clubs (NASC), which holds its annual convention in the town. It is now the fourth biggest event of its kind anywhere on Earth - behind California, Minnesota and Sydney.

And that is good news for the town's businesses as scores of motor fans descend on the Essex showground, injecting thousands of pounds into the town's economy.

Braintree Town Centre Strategy Group chairman Brian Cutmore said: "We really appreciate their presence. The convention is a big attraction and brings a lot of people in the town just to see the parade. We would be very sorry if we lost them.

"It is reassuring to know the NASC want to keep coming back because it gives traders a great opportunity to make extra money."

Such is the importance of the event Mr Cutmore sends out special information detailing how firms can cash-in on the event.

Neil Meredith, chairman of the National Association of Street Clubs, said: "At the moment there are only four places in the world which matter to street rod enthusiasts and Braintree is one of them.

"There's only two reasons why street car enthusiasts don't go to it. They either have no money or their wife has booked a holiday elsewhere without them knowing.

"There will be people flocking to the Essex Showground from all over Europe. For example, one man from Spain is shipping over 20 cars at a personal cost of around £10,000."

Up to 150 classic rods will parade through the town centre as part of the extravaganza on Saturday, August 28.

And a further 2,000 cars of all shapes, sizes and colours are expected to be on display to the public at the Essex Showground during the same weekend.

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