A popular pub at risk of closure after being put up for sale will stay open.

The Picture Palace, in Lincoln Road, Ponders End, could have been closed or even demolished after JD Wetherspoon put it on the market in January.

However it has been bought out by Hawthorn Leisure, and will relaunch under the new owners on May 12.

Drinkers at the pub said they were happy it is going to stay open for business.

Peter Howard of Enfield Lock said: “It is good for old people to meet up, we heard rumours that it could close but I’m very pleased it has got a permanent stay of execution.

“It does tend to get very busy in here, it is the only pub around here which is cheap, and it is good for the community that it has been saved.”

Janet Pruden, also of Enfield Lock, added: “We have been to several Wetherspoons but this is the most unusual, and it has good food, drink and service, so I’m pleased the pub will stay.”

Ken Smith, of Ponders End, said he hoped the pub would stay as it is now, with unusual decoration including murals of black and white film stars such as Charlie Chaplin and Laurel and Hardy.

He said: “I know there were people fighting to keep it open, everyone I know who drinks here is happy the pub is staying as it is.

“It is a positive result for the area.”

However some are worried the prices will rise now the ownership is changing.

Tony Avery of Edmonton said: “Usually non-Wetherspoons pubs are more expensive. If this is the case I don’t imagine I shall be coming back.”

The building has been around since 1913 and was previously a picture house and dance hall called “The Howard Hall.”

It stood empty for a number of years but was transformed into a pub by JD Wetherspoon in 2001.

Hawthorn Leisure chief executive Gerry Carroll said: “We are delighted to welcome management and staff into the Hawthorn team as they transfer across with the pub.

“It will be business as usual from completion and our relentless focus on people, quality and delivering great value will ensure that we continue to offer a fantastic proposition for our customers”.

Hawthorn has bought eleven pubs from JD Wetherspoon this year, with the company refusing to say how much the Picture Palace cost.

A party is planned on May 7 at the pub, the final day it will be open as a Wetherspoons, with local bands playing and fancy dress encouraged.

It will then briefly close for rebranding before opening again the following week, with May 12 the provisional date.