Highgate residents are holding a street party to honour the closure of a much-loved shop that is the “hub of the community”.

Northwood News - formerly Northwood Dairy - has been open over 30 years but it will now close its doors to Highgate customers.

Last year, the shop’s co-owner, Jay Patel, told the Ham&High that the arrival of the new Sainsbury’s Local on Archway Road in 2012 had caused his profits to drop by 50 per cent.

Mr Patel said at the time he was seriously considering closing the shop, and added: “They said a Sainsbury’s would increase footfall. Well it has, but only for them.”

When Sainsbury’s plans were revealed, almost one thousand people signed a petition to prevent the store from opening.

Judith Bennet, a regular at the shop, said: “We argued that the Sainsbury’s would put Northwood News out of business. Within about two weeks of it opening, their profits went through the floor.

But the petition was unsuccessful and residents have argued that the opening of the store has caused irreversible damage to local businesses such as Northwood News.

“They are a lovely family and they are such a part of our community. They have seen all the local children grow up - they are just lovely lovely people.”

The street party will be on Saturday May 14 from 2pm on Holmesdale Road.