The plans, which will see the historic Victorian covered markets revitalised as part of the Tithebarn regeneration scheme, do not include the flea market traders.

The Preston Tithebarn Partnership (PTP) wants to revive the city's markets with a three-part plan including an improved indoor market, more regular farmers' markets and a new-look street market.

However, the PTP, made up of developers Grosvenor and Lend Lease, has not included the twice-weekly flea market as part of its initial plans.

Trader Paul Gibbon, 40, who has travelled from his home in Lancaster every Tuesday and Thursday to the market for the last 15 years, said the flea market had originally been included in the Tithebarn proposals.

He said: "It has been a bombshell. We always thought that we would have a place on the side of the streets as part of Tithebarn, but now we have been told there is nowhere for us.

"Tuesday and Thursdays are three-times busier than any other day that the other markets are on, it would be crazy to lose it."

Fellow trader Geoff Sweet, 39, of Farington, Leyland, said that the market was so popular he often struggled to get a pitch on a Tuesday or Thursday.

He said: "People might say that the stuff sold there is a load of rubbish, but one man's junk is another man's treasure."

Preston Council confirmed it was working with the PTP to develop proposals for the new market, which is believes can be a "third anchor store" for the Tithebarn scheme.

A spokesman said: "The flea or car boot market falls outside the scope of the Tithebarn scheme so the council is looking at options to see whether such a market could be accommodated in a newly redeveloped city centre."

Anthony Gill from the PTP, said: "The overall vision is to develop Preston's markets in such a way that they naturally become the 'larder of the north'.

A series of meetings is being held with representatives of the existing market traders to manage the change process.