Manchester's flagship branch of Debenhams is expected to stay open until the autumn at least, the Manchester Evening News understands.
The country's biggest department store chain went into administration on Tuesday morning, leaving 25,000 workers fearing for their jobs and many high streets at risk of losing a major outlet.
Among them are eight branches in Greater Manchester in the Trafford Centre, Manchester city centre, Oldham, Altrincham, Stockport, Bury, Bolton and Wigan.
Despite going into administration, Debenhams will continue to trade - with gift cards still valid across stores and online.
However, about 50 branches have been earmarked for closure in the future.
These were originally announced in October and planned for the next three to five years, with the first dozen stories expected to lose starting next year.
A list of of which shops will shut has not been released.
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But not all branches are at risk - consultants will first focus on renegotiating rents with landlords to before making any drastic closures.
The 50 stores to close over the next five years will be those that are the least profitable, a Debenhams spokesperson said, adding that smaller stores that bring in the least takings are most at risk.
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A number of flagship stores - or those that have been recently refurbished - are likely to stay untouched.
The Trafford Centre Debenhams is expected to fall under this category.
And the M.E.N. understands the branch on Market Street - housed in an enormous, listed building in the heart of the city centre - is thought to be held in a similar regard.
Manchester council officials have made contact with Debenhams since the administration announcement was made and have been told nothing will happen before the autumn.
However, given the volatile nature of the British high street in recent years, that assurance is not being taken for granted.
It is understood the current lease on the Market Street store runs for another 15 years and costs around £2.8m in rates a year.
Debenhams is the latest in a series of retail giants to face major financial difficulties as shopping habits have changed, increasingly moving online.
Shortly before Christmas, workers at Kendall’s on Deansgate - part of the House of Fraser chain - were told it would close in the New Year, amid a row over rent.
Eventually, after mediation involving the council, a deal was struck and the store saved, but the crisis caused further alarm about the future of the high street.
Today, city centre councillors said they would once again be battling to keep a department store open.
Spokesperson Pat Karney said: "We've sent a letter to the banks [that now own Debenhams] requesting a meeting as soon as possible.
"There is no immediate threat to Market Street, but Manchester needs to rally round.
"Decisions can be brought forward, given the nature of the high street, things can change.
"We learned with Kendals there will be twists and turns.
"We're calling on Mancunians to rally round and make sure our Debenhams stays open."
