A MASTERPLAN to inject £75 million into Time Square and Warrington Market is "dead in the water", say developers behind the scheme.

Only a radical change of heart, it appears, will now save the proposals in the wake of rival plans for Golden Square getting the nod from Deputy Prime Minister John Prescott.

This leaves the way clear for the borough council to consider detailed submissions on Golden Square in the coming months.

The future looks bleak for the project say supporters of the Time Square bid, which would bring 24 new shops and a department store, stretching along Bank Street from Academy Way to Buttermarket Street, alongside a major revamp of Warrington Market.

John Davies, property director for Time Square developers Sellar, says he is "extremely disappointed" that the Government has come to such a swift decision on the Golden Square package.

He told the Guardian he was led to believe that objectors would be allowed to make representations about the centre revamp.

But when Sellar's planning consultants tracked down a case officer for the Golden Square application, it had already been decided that the plans would not be subjected to a public inquiry.

Mr Davies said: "Our scheme is dead in the water. Unless there is some material change, or the Government Office for the North West changes its mind, and calls the Legal and General application in for a public inquiry, our scheme is effectively dead.

"I am afraid the council has done great damage to the south east quadrant of Warrington town centre."

Market traders, who would have benefited from a £5 million revamp as part of the Time Square package, say they are "absolutely gutted".

Christina Houghton, Market Traders' Association leader, said: "As

far as we are concerned the council owed it to Warrington people to support our scheme.

"Now we have lost our development and lost our investment - there is no plan B."

Traders say Golden Square owners Legal and General pledged cash for a new bus interchange and Palmyra Square improvements, but offered nothing for the market.

And their concern is that the interests of big business are taking priority over family-run Warrington enterprises.

"Tesco is not even built yet and we have got the bus station being moved further away, as well as all these new shops being built," said Ms Houghton.

Plans to demolish and rebuild Legh Street multi-storey car park also worry traders, who fear that after the number of council contract spaces are taken into account, there will be no room left for shoppers.

Proposals for Golden Square were narrowly approved by the borough's development control committee, amid controversy over the late arrival of one councillor, who was not permitted to vote on the application.

A spokesman for the Government office for the North West confirmed that only policy issues are taken into account, when considering whether to order public inquiries on planning applications, rather than local implications.