UP to 50 traders and their assistants have been ordered to leave the market hall in Middlesbrough's Hill Street Centre by December 31.
Landlord Sun Alliance has agreed to hand over the area covered by the indoor market to a sports store chain. Shop fitters move in on January 10.
Haberdasher George Davies, who has traded in the indoor market for 23 years, said stallholders were not consulted and were not being offered compensation.
"It just came out of the blue,'' said Mr Davies. "We were asked to go to a meeting and given six weeks' notice.''
It means the dole queue for Shaffique Ahmed, who employs ten assistants on three stalls in the market hall.
"I have put in 17 years here and it's all gone in 52 days' notice. That is how we are being treated. It's my business, my livelihood. How am I going to pay redundancy to my staff, who are good staff, part of my family? I am 48 years old and I have never been out of work. It's disgusting.''
Picture frame seller Kathleen Nicklin said: "It is devastating.
"But I think it has been underhand.''
Centre manager Peter Drabble said: "The market hall does offer a certain range of goods and a different shopping dimension of Hill Street, but we are increasingly looking to provide our shoppers with a choice of national branded retailers and the very best shopping experience possible.
"We will do our utmost to help the traders find new locations in the area and have some contact information available for them. Whatever they decide to do, we will aim to give them every possible support and assistance."
According to stallholder Philip Nicklin, some of the alternative locations want rents of between £30,000 and £40,000 a year.
Three years ago, centre builder Royal and Sun Alliance bought back Middlesbrough Council's interests in the centre, including the freehold on the market hall, for £16m. There was the offer of an additional £1.3m on clearing the market hall. At that time, the stallholders won a campaign to stay.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article