A £30 million revamp of Bolton Market Hall has been put on hold, sparking fears about the future of the historic town centre building it was revealed on Friday.

Gareth Tidman exclusively reported:

The developer, Agora Shopping Centres, has revealed it cannot start work next March as scheduled, because compensation packages have still not been agreed with four long-term Market Hall lease holders.

The company claims it is still committed to the project but will not say when work will begin.

Traders now fear the Market Hall could be left almost empty as stall-holders - some of whom have been based at the Grade II listed hall for generations - have already been forced to relocate.

Alison Raine, of Agora, said: "We had hoped to gain vacant possession of the Market Hall by March, 2006, so we could begin on site next summer.

"Unfortunately, as we have been unable to reach agreement with a small minority of our leaseholders, we have been forced to delay the start. We are therefore offering our Market Hall traders the opportunity to continue to trade in the Market Hall at very preferential terms."

Many traders are furious that there are still no guarantees the project will go ahead, despite 68 of the halls 72 stallholders agreeing to leave following a bitter fight against the plans.

About 80,000 people signed a petition supporting the traders battle against the scheme to turn the hall into a modern shopping centre.

The four long-term traders who have not agreed compensation packages with Agora are C&J Carter Jewellers, Varanni Shoes, Cappuccino Coffee House and Pink fashion shop.

It is thought each of the businesses has between 10 and 15 years remaining on 25-year leases.

A spokesman for the four shops said: "The tenants entered into negotiations with the spirit of wanting to resolve the matter and have continued to communicate and negotiate with the developer."

Agora officials will meet with the members of the Market Hall Tenants Association next week to discuss the delay.

Peter Wilson, director of Central Services at Bolton Council, said he anticipates Agora's parent company, Warner, will take possession of the building soon after March, but said the council would put forward its own plans "if the worst happened" and Agora pulled out.

The £30 million scheme to revamp the Market Hall provoked outrage when it was revealed last year.

Under the plans, the Market Hall will be transformed into a modern mall with a new glass-fronted extension in Bridge Street, and the creation of shop units, replacing its traditional stalls. The number of businesses will be cut from 70 to 25.

Developers say the refurbishment will enhance and preserve the listed building for future generations and help maintain Boltons standing as a healthy and vibrant shopping area.

But many shoppers and traders claim it would mean the end for one of Bolton's most important attractions.

A spokesman for Agora said traders may still not receive all of the compensation they have agreed with the developer for agreeing not to reapply for their leases when they run out in March.

She said that the company would only be able to commit to the financial packages once a "majority of tenants" had agreed to leave the hall.

Even then, traders would only receive a percentage of the settlements - believed to range from £5,000 to £80,000 - before March, with the balances being paid only if the development goes ahead.

Those who remain in the hall beyond March will be offered similar or improved compensation terms, the spokesman said.

Steven Eastwood, co-owner of family firm Eastwoods Curtains, which has been in business at the Market Hall for 37 years, said he had already taken a lease on a shop in Blackburn Road, Astley Bridge.

He said: "Many of the traders fought tooth and nail to stay at the Market Hall and now we find out that there are no guarantees that the development will take place.

"We feel we have been treated horrendously. It isn't just our livelihoods at stake - all my family work here and it has been a huge emotional turmoil for us to leave.

"Many traders have had to make staff redundant or taken out loans on the back of the compensation they have agreed, but with no date for the development who knows if and when they will receive their money."

Another trader, who asked not to be named, said: "We could be left with a half-empty Market Hall which would be a disaster for the town centre.

"Some of the compensation packages sound large but they are a fraction of what the businesses were worth before this scheme came about."

Cllr Barbara Ronson, leader of the council, said: "We cant give any guarantees over this project. We are just waiting for a very small number of traders to come on board."