John Gollop, President of the Town Traders, said high rents had been the main factor in the loss of traditional island names such as Maison Carre.

Although consumer spending had been on a par with previous years in the run-up to Christmas, he hopes the rejuvenation of the town markets will bring back a more traditional feel to the island shops.

Mr Gollop said: "Higher rents do hit the smaller, traditional businesses.

"Those that are selling fresh food for instance do find it hard to pay the kind of rents that luxury goods shops or more commercial premises could pay.

"That is very much something that we hope, in connection with the Chamber of Commerce, to take a more serious look at."