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Emergency talks are being held to save Rochester's Dickens Christmas Market after the firm behind it pulled out.
The Dreams Workshop cancelled a rumoured seven-year deal last week for the German-style market in Rochester Castle Gardens.
Spokesman Bob Cole said the market, which almost doubled its visitor numbers over two years to 200,000, had not made enough money to cover "substantial operating and marketing costs".
It featured a food court, gifts, a marching band and funfair rides - drawing in coach-loads of visitors for three weeks.
Now Medway councillors and traders want an alternative market - though marquees, not wooden cabins, could be on the bill.
Cllr Andrew Mackness (Con) said: "It doesn't have to be expensive. We're not Munich, we're not Prague, we could just have it in marquees.
"Some people were disappointed with content of the previous market anyway. It was a bit tacky and not brilliant. Maybe we can change that and focus on Kentish gifts."
Baggins Book Bazaar owner Godfrey George, who chairs the Rochester Association of Businesses, warned traders could have to pay.
He said: "The businesses here would have to get together and put hands in their pockets, but it would be well worth a punt. The council should subsidise us."
Cllr Mackness and Cllr Kelly Tolhurst (Con) are meeting the council's leisure boss Richard Hicks on Wednesday to discuss the matter.
Cllr Mackness said: "I find the idea that The Dream Workshop lost hundreds of thousands very, very hard to believe."
Cllr Tristan Osborne (Lab), said: "Last year it was estimated each visitor spent £30 in the High Street, netting a return of £7.5m which is crucial for local businesses."