Rumours the Hoxton Street Iceland store is set to be turned into luxury flats have been put to bed by the supermarket chain.

Shoppers in the area claim they have been told it is set to close, sparking panic about where they will be able to do their shopping and fuelling the claims of gentrification in the area.

But when the Gazette contacted Iceland for comment, a spokeswoman said: “The lease on our Hoxton store runs until 2019 and its future is assured until then, and we very much hope to retain a presence there in the longer term.”

Shoppers are also calling on the council to make stalls on the famous Hoxton Street Market cheaper and bring back free parking, which was scrapped “temporarily” during the Olympics five years ago.

The town hall said it was trying to recruit more traders to the market and that it had sent a survey to 6,000 people asking for their thoughts on the market.