BIG-name stores are set to open outlets in Hyndburn if a £26M investment scheme is given the go-ahead.
Plans have been submitted for a massive revamp of the 15-year-old Peel Centre at Whitebirk, which would bring hundreds of jobs to the area.
The scheme has met with opposition from Hyndburn Chamber of Trade, which fears it could take business away from Accrington town centre.
But Peel Holdings, the company behind the proposal, believes that the development would have a positive effect on Accrington.
The majority of existing stores such as MFI, Currys and Carpet World would remain in the retail park but some would move into new premises, freeing up space for a small number of new retailers.
Retail giant Next is set to open a huge fashion and furniture store, bringing 250 new jobs.
And Boots the Chemist and the Arcadia Group, which includes the brands Dorothy Perkins and Burtons, have expressed an interest in taking one of the five new units.
Both already have shops in Accrington town centre but say the new stores would complement existing branches, which they insist will stay open.
Gareth Finch, property planning manager at Peel, said: "The new-look retail park will complement Accrington town centre by bringing in retailers who otherwise would simply not come to Hyndburn.
"We have responded to the fears of local trade groups by taking steps to ensure that retailers who are already in the town centre won't be able to close their town centre stores and move to the retail park. Also, at least 75 per cent of the retail floor space will still have to be occupied by bulky goods retailers."
But Michael Whewell, past-president of Hyndburn Chamber of Trade, said that the proposals could see job losses in Accrington.
He said: "We object to any further generation of retail development within the Whitebirk area as we believe it will have a detrimental effect on Accrington town centre and other town centres in the area.
"We spent hundreds of thousands of pounds fighting the Trafford Centre, which was seen as a threat even though it's so far away. What this is doing is bringing it right to our doorstep.
"It would be bad for the town as a whole. It would have a very detrimental effect. These applications always say how many jobs they would create but not how many they would destroy."
Peel Holdings, however, says it is even proposing a new bus link between the retail park and Accrington. There will also be information pods at the retail park telling customers how Accrington town centre can be reached and providing information on the town centre and other local attractions and facilities.
The plans will go before Hyndburn Council's Planning Committee next month.