Fears that Leeds' famous Kirkgate Market faces a bleak future and could close within five years have been dismissed by council bosses.
They say they are fully committed to Europe's largest indoor market which they described as "one of the gems of the city."
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Traders and councillors have in recent weeks raised concerns over the market's long-term future as businesses battle the impact of the recession.
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The National Federation of Market Traders has called for Kirkgate stallholders to be given rent reductions, while Coun Mark Dobson (Lab, Garforth and Swillington) also wants more council support for the market.
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But council chiefs say the market is set for a series of improvements and changes, not closure.
Plans include the opening this summer of Jamie's Ministry of Food stall. Backed by celebrity chef Jamie Oliver, it will provide cookery courses, teaching people how to make healthy, balanced meals in a bid to tackle the nation's obesity crisis.
A sum of 250,000 has been set aside for improvements to the market, which the council says will be spent in consultation with traders' representatives.
Stallholders are also being encouraged to make use of a 250,000 scheme launched by the council to offer business advice and, in some cases, grant aid.
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The council also points out that it recently introduced Wednesday afternoon opening after suggestions from traders, with the incentive of free car parking opposite the market for the afternoon.
Cath Follin, head of city centre and markets, said: "Recent rumours about the potential closure of Kirkgate market couldn't be more wrong. We'd like to reassure traders and shoppers that we are completely committed to Kirkgate and its future.
"The market is a big part of Leeds and its heritage. We are committed to continuing to improve the market and encouraging more and more people to visit and shop there.
"It is a truly spectacular space and offers such a wide variety of different items.
"We are committed to the market's future, and have no plans to close the market. We are continuing to work with traders to identify ways in which the market can be improved and bring new businesses into the market."
The council has also announced the extension of an incentive scheme to attract new businesses to the market.
The How Bizaar project allows new traders to occupy a stall rent-free for 12 weeks. Now the council is to establish a "Bizaar Quarter" – seven stalls that will sit alongside the start-up stall, allowing traders to continue to receive support after their initial rent-free period has ended.
Coun Andrew Carter, council leader, said: "I am acutely aware of the existing market traders' desire to see investment in Kirkgate Market, and we are looking at various ways we can help them return the market to its glory days. This project is a small part of that."