Regeneration chiefs were seeking urgent talks with fashion chain Etam - after the company confirmed it intended to quit its Darley Street store.
The major shop, standing close to the Kirkgate centre premises, is said by the company to be unsuitable for refurbishment.
But Etam pledged today that it would continue to look for sites in Bradford.
The blow for the city centre follows a bombshell announcement by C&A just a week ago that it was axing all its 109 stores in the UK.
The Bradford store was expected to be part of a £200 million shopping development planned for the Broadway end of the city centre.
Today Etam had no comment to make on the possibility that it might move into the vast new development which will open in about three years time.
Developers Caddick Construction were not available for comment.
The move by Etam will leave three major empty stores in the heart of the city within yards of each other. The former Dillons store is without a tenant after closing in April.
Etam employs about 25 staff in its city centre store and some may be relocated.
A spokesman for the company said Etam plc - the UK division of the French retail group - had conducted a national review of its shop properties.
She said as a result more than 100 stores had been refurbished and another 40 would be revamped this year.
"The balance of the stores will be refurbished or re-sited and the current store in Bradford, which falls into this category, will close later this year.
"Etam recognises the value of its customers' loyalty and support and the company will continue to look for sites in the Bradford area."
It said it will close its current store towards the end of the year.
Deputy Council leader Councillor Richard Wightman said he had instructed regeneration officers to contact the company with a view to talks as soon as possible. "We will do everything we can to help the company find a suitable site," he said.
Chairman of Bradford Retail Action Group Jeff Frankel said the closure was the second in Bradford to be connected with a company's national strategy.
"It is a shame and this is the type of shop we wanted to hold on to. But I don't think it has anything to do with Bradford."
Labour spokesman for regeneration Councillor Dave Green said the Council needed to find out the reasons and try to act them
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