THE name of the developer chosen to transform the former Co-op Pioneer site in Burnley into a multi-million pound development will be announced tomorrow.

Five "big-hitting" firms have been competing for the chance to build a major new retail development in the town centre.

The short-list was drawn up by Burnley Council earlier this year after 13 firms expressed an interest in transforming the Curzon Street site.

But the names of those hoping to be chosen to redevelop the prime town centre site, which is currently being used as a car park, have been kept firmly under wraps.

It was hoped that the chosen developer would be able to attract major retail names such as Debenhams into the town.

The total value of the scheme is expected to be in excess of £55million. It will also create up to 400 new jobs and will encourage further high quality investment into the town.

New plans for the site will be revealed at a press conference being held at Burnley Business Centre, in Bank Parade, tomorrow.

The chosen developer will make a presentation showing how the scheme will improve the retail and commercial vitality of Burnley town centre.

Speaking after the short-list was drawn up, Coun Pat Bennett, Burnley council's deputy leader, said: "We are looking for a quality development on that prime site.

"The project represents a major and exciting opportunity to improve the retail and commercial vitality of the town centre and build on Burnley town centre's attractiveness compared to other regional centres.

The Co-op store closed in January 2001 with a loss of 60 jobs.

A bid, which was backed by Burnley MP Peter Pike, to use the site to build a JobCentre Plus failed because the council wanted to keep the site for retail.

Last year, the North West Development Agency gave a grant of £2 million to buy the long-term lease back from the Co-op so Burnley Council would be the sole owners.