Regulars of the Summer Cross pub in Leeds fear it will be allowed to fall into disrepair so developers can knock it down and build flats.
The 200 year-old pub in Otley was closed 18 months ago and boarded up for six weeks before Barry and Pamela Mills took on the leasehold.
They successfully built up the pub, hosting quiz, karaoke and live music nights and winning two awards. But they were informed by phone a month ago that their lease will not be renewed and the couple are relocating to Lancashire this week.
Regulars, including MP Greg Mulholland, fear the pub will be turned into flats and have launched a campaign to save it. Mulholand said: "Barry and Pamela have done a great job with the pub and it is a slap in the face for them to be told they are not wanted. They have had the rug pulled from under them."
Pamela Mills said: "locals are so enraged because it's got to be a lively community pub and it's the only one this side of town."
Her daughter, Tracy, added: "Developers want this because it's got a big car park and outside area and the pub is a very big inside -developers have tried to buy it before we've been told."
Shirley Lewis, of the Save our Summer Cross campaign said: "Why close a business that for the first time in years is growing successfully? The Summer Cross has become a popular meeting place, a source of entertainment and supportive of local events."
She added: "The Summer Cross is part of the community in Otley and it is not right for property developers to close it to try to make more money."
Phase 7 Properties Ltd, based in north London, who own the property were unavailable for comment.