Stallholders were offered an 11th hour offer to stay on in a single reduced-size market outside the town hall after a dramatic u-turn by the city council.
But the vast majority refused, having already made arrangements to go home to their loved ones in mainland Europe.
That means the market will close today as planned - while rivals in Birmingham, Nottingham and Edinburgh stay on to cash in on one of the busiest shopping weekends of the year.
The M.E.N. revealed yesterday how a number of stallholders were angry the markets had to close before the weekend to make sure council contractors were available to clean up after them.
Town hall chiefs relented early in the morning - and council staff spent several hours asking traders if they would be prepared to stay on until next week.
Albert Square
The plan was to amalgamate the markets - currently in Albert Square, St Ann's Square, Exchange Street, New Cathedral Street and Brazennose Street - into a single market in Albert Square.
But a council spokesman said last night that the majority of traders had said they wanted to stick with today's planned closure.
Most of the traders are from Germany and other parts of Europe - and had already booked tickets on ferries home.
The spokesman pointed out that there had been no formal requests from stallholders to extent the period of trading before the M.E.N. broke the news yesterday.
And Eddy Newman, the council's executive member for markets, said: "Following the huge success of the Christmas markets this year, I can assure everyone that for the foreseeable future the market will operate up to and including the weekend before Christmas."
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good Im glad. now I can cycle through town easily
As a trader on the markets on Exchange Street can I point out that we had to close on Tuesday night, 2 days before the rest of the market, despite all the councils literature and publicity stating otherwise. We, as well as the traders on New Cathedral Street, are nearly all local people who have small businesses producing art and craft artifacts. We asked market staff why we had to shut earlier than everyone else and were told it was because the site had to be cleared before Christmas. I left my chalet at 8pm last night and by 9am today the whole of Exchange Street was cleared. If they can do it that quickly why couldn't we trade for longer?
I can assure you that had we been given the opportunity to trade for longer, as the European traders have, we most certainly would have taken it. This early closure could cost our local small businesses dear.
Perhaps next year Manchester Council should consider hiring contractors who will work during the festive season.
Another solution would be to move the markets to Salford, I am sure the council here would be far more helpful, and efficient.