Mr Gates said: “People can do so much in terms of making sure the numbers add up but if it is too tough then tough decisions have to be made.”
He said Trago on Arwenack Street was “an anchor” in that part of the town but businesses were facing costs that had “gone through the roof”.
Mr Brown said he thought customers were watching their spending and taking advantage of online discounts which he said were “decimating some of the high street options”.
“We have to restimulate the economy and that starts by creating positive conditions for growth,” he said.