TK Maxx and B&M Bargains are in the running for places in a new shopping park at the former Frontierland site.
The clothing and household furnishings chain and the discount store are among the retailers developers Opus North are in talks with.
Opus North are expected to officially reveal the first shops to sign up for spots on their new £17m Bay Shopping Park very soon.
A spokesman for Yorkshire-based developers Opus North confirmed TK Maxx and B&M Bargains are among the firms they are talking to, but could not confirm retailers who had definitely signed up to be part of the Bay Shopping Park.
TK Maxx already has a shop in Market Square in Lancaster, while B&M Bargains also has a store in Lancaster and in the former Woolworth building on Morecambe seafront.
A spokesman for Opus North said: “Since being granted planning permission to regenerate the former Frontierland site, Opus has been working flat out to finalise the usual accompanying legal matters. The ongoing support in the Morecambe community for the scheme is greatly appreciated and we are hoping to get started on site later this year. We understand that local residents are keen to know which retailers are coming to Morecambe and we anticipate being able to announce tenants soon. Discussions are ongoing with a number of interested parties about taking up space at Bay Shopping Park. The nature of these discussions is that we cannot name any names until the deal is finalised, but as soon as we have more news we will let everyone know.”