Chelsea antique traders at King's Road market are facing eviction to make way for a giant fashion store.
Around 50 antiques shops at the Antiquarius market in King's Road, which opened more than 40 years ago, could be destroyed under plans to replace the site with one huge shop.
Shopkeepers told a London newspaper they have not been offered alternative premises and fear their livelihoods may be lost if the market closes.
Some traders also believe they have not been kept properly informed of the developer London & Associated Properties (L&AP) proposals.
The site has already been let to a major fashion retailer,but the developer would not reveal its name.
L&AP will now submit a planning application to Kensington and Chelsea Council, to make the necessary changes to the Grade II-listed building in the next few weeks.
If permission is granted, the work could begin on the late Victorian building as early as summer, with the new shop trading by Christmas.
An L&AP spokesman added: "Our main concern is securing the fabric of the building, which is in a process of decline and needs updating. We see this as an exciting opportunity for the King's Road.
"We're sympathetic to the traders but they are on temporary leases. We have done a lot of consultation with the business community and the residents' associations about the proposals, which we hope will take forward the future of the listed building.
"Depending on whether the listed building planning application is successful, we hope to give traders about three months' notice."