FASHION giants Zara and H&M are among the first high street names to sign up for the £40 million re-development of Bolton's Market Hall.

They will become the flagship stores, and be joined by Starbucks, Principles, Warehouse, Lush, Office and Joy, while Carphone Warehouse will open a second store in the town.

Zara and H&M have taken large units either side of the Corporation Street entrance.

Developer Warner Estate made the announcement as more than 50 market stall holders approach their final day of trading in the shopping centre on Saturday.

Despite the loss of the stalls, Warner says there will be a net increase in the number of people employed, as the number of new jobs created will be in three figures.

Existing businesses, including Westwells Florist, Stokes Opticians, Cappucinos Restaurant, C&J Carter Jewellers, Photoworld, Varanni, Pink and Millers Bags, will also be accommodated within 96,000 square feet of new retail space.

Work has already begun on re-housing them and should be complete by March. The new shops are expected to open by September, 2008.

Nine small units remain available for let, and Warner is currently in talks with interested retailers.

Kevin Leaver, senior development manager at Warner, who manage the centre for the Agora Shopping Centres Fund, said: "We are delighted to have attracted such a high calibre of shops to Bolton in what is a difficult retail climate.

"That they have committed themselves so far in advance is an endorsement of what we are doing, and their presence will mean more people will stay in Bolton for shopping."

Around 77,000 shoppers signed a petition opposing the loss of the Market Hall stalls, whose traders have now been compensated.

Mr Leaver said: "The Market Hall has evolved throughout its history, and this is just another stage in that evolution."

Rod Neasham, who has managed the Market Place Shopping Centre for the last 11 years, said: "Retail in Bolton has been going downhill because there is more variety and choice elsewhere.

"This development can be the catalyst for changing that."

Cllr Ebrahim Adia, Bolton Council's executive member for development, said: "I'm very pleased to see big international retailers like Zara, H&M and Starbucks coming to Bolton.

"It will put us in a very competitve position in the region and adds to our retail offer, which will hopefully attract more shoppers.

"There's a good mix of shops, and it's nice to see some of the existing businesses will be part of the new set-up to maintain some continuity."