Liquidators in pledge over Telford's Anstice Memorial Institute

Griffin and King, the company behind the liquidation of the building, said plans remain to reopen the hall for the use of the people of Madeley as soon as possible.

The Anstice closed on February 24 after members voted to liquidate the club after it fell into financial difficulties.

The liquidators have met with the new five-man committee that was set up to oversee the liquidation of the club and look to find ways of securing the future of the building.

Tim Corfield, from Griffin and King, said: "The update is that the committee has met and we are looking at all opportunities to ensure the property is eventually disposed of within the community and for the best plan to continue to serve the community.

Rumours have been circulating that the Anstice may become a Wetherspoons pub or could be turned into flats, but Mr Corfield said the plan still remained to ensure it was returned to being a much-loved public building.

"That is our intention, both us and the new committee," he said

"We are also working with the council and other stakeholders and this is what we would like to achieve as quickly as possible, I am optimistic we can do that."

The building was the UK's oldest Working Men's Club and was owned and run by private members.

It has four bars, a snooker room, pool room and a majestic ballroom, dates back to 1868, with the club formed in 1870 in memory of local businessman John Anstice.

Previously it was the home for a number of local community groups, including Telford & Wrekin Boxing Club who have been forced to find a new home because of the closure.

But it fell foul of rules set up to ensure that both men and women benefit from any funding it is able to apply for.

Because it did not offer equal rights for both sexes, with women only allowed to be associate members, the club did not meet the criteria to apply for grants to maintain the Grade II listed building.

At the last full meeting of members, 82 per cent of those in attendance voted to liquidate the club.

Mr Corfield said: "The biggest problem is that the club has been losing significant amounts of money for a long time."

Though Mr Corfield would not go into details about the work being done to ensure the Anstice is returned to the community, he said steps are already under way.

The community in Madeley has strongly campaigned to keep the Anstice as a community venue, with more than 900 people joining a Facebook group called "Save the Anstice."