A 3,500-signature petition, which aims to save shops in Oxford's Covered Market from going bust, is being presented to city councillors today.

Hundreds of shoppers have signed the petition in support of traders, who are facing big rent increases.

Fifty-four traders at the historic market in the centre of the city have appealed against a rent review by Oxford City Council.

The Covered Market Traders' Association complained about the proposed rent increases and the issue has now been referred to an independent arbitrator.

Association chairman Richard Alden said he hoped councillors would take the petition into account when considering rent increases.

He added: "It may be too late for the petition to be considered as part of the arbitration process, but if councillors feel the rents set by the arbitrator are too high, then they can overrule him.

"The petition underlines how sympathetic shoppers are towards the traders - they know the economic situation is not good.

"If the rents are set too high then butchers in the market, for example, could be forced to close.

"We are also reaching a critical condition with the fabric of the building where work needs to be done now or the council will be faced with too big a bill and struggle to find the funding.

"Two years ago, 70 uplighters were installed to improve the lighting but now there are only two working because the council has failed to replace the lightbulbs."

Mary Clarkson, the council's executive member for culture and heritage, said: "We want to maintain the balance of trade in the Covered Market, with at least 20 per cent of traders selling fresh produce.

"That's in our local plan so we can't allow the fresh produce stalls to go under.

"One of the complaints from traders is there has been insufficient communication from the council so we will set up a regular forum where dialogue can take place and we don't end up with a situation where only two lightbulbs are working."

So far, the arbitrator has ruled on four out of 54 cases, ordering rent increases ranging between 28 and 51 per cent.

The petition, launched when the Conservative Party's shadow chancellor, George Osborne, visited the market in April, urges city councillors to "Save the Covered Market, one of Oxford's jewels in the crown".

Sandie Griffith, who runs Jemini flower shop, is facing an increase of more than 100 per cent, from £25,000 to £57,000.

She is trying to sell off one of her units to save cash.

The council meeting starts in the Town Hall at 4pm.