Bosses at the shopping centre — already reeling from a string of high profile store closures — have told the Telegraph that Argos could be primed to lead an ‘exodus’ from Greenock.

Peter Langley, a spokesman for the Mall, named the catalogue retailer, along with New Look and Poundland, as candidates who ‘might consider’ axing their town centre operations.

Argos today declined to be drawn on the issue following the launch of a campaign by the Oak Mall to halt a proposed £30 million expansion of the Port retail facility.

In a terse statement, an Argos spokeswoman said: “We don’t comment on speculation.” The company added that it remained committed ‘to the Greenock area’.

Meanwhile, Poundland and New Look have distanced themselves from the Mall’s claims — but did not rule out the possibility of moving, saying that they have no plans for the time being.

A Poundland spokesman said: “There are currently no plans to close our store in the Oak Mall Shopping Centre in Greenock.” A spokeswoman for fashion chain New Look said: “I am advised that we currently have no plans to alter our location in Greenock.” The previously bankrupt Mall — which now has two secretive Channel Islands-based holding companies whose directors’ identities remain under wraps following a £35m buyout last year — has warned that Greenock is in danger of becoming a ‘ghost town’.

Property asset manager Iain Minto has written to all Inverclyde councillors ahead of a crunch planning meeting on Wednesday which could give the green light to a near 200,000 sq ft expansion of retail space at the Port park.

Senior planning officials have recommended that the development be approved by elected members of the district’s planning board.

But Mr Minto insists: “We believe that if this development goes ahead we will lose 20 per cent of our existing tenants by floor area to the retail park.” In a stark warning to the local authority, he declared: “The retail provision in the Oak Mall will shrink by a third and the town itself will lose all remaining regional and national retailers.” The council says it is committed to ensuring retail prosperity for the whole district.

A spokesman said: “The future of retailing in Inverclyde has been extensively debated and the major challenge previous studies have shown is that there is significant expenditure by Inverclyde residents outwith the area.

“The Port Glasgow proposal presents the opportunity to capture and retain part of that expenditure.”