The community interest company is appealing to community-minded organisations who would like to rent a space within the current library building.
The income generated from rent would be used for the maintenance and upkeep of the building to help sustain and improve the facility for local people.
Padgate was one of the libraries put at risk last year as part of the consultation to modernise library services across the borough.
Following the consultation, a working group was established to develop a sustainable future for library services across the town, with representation from LiveWire, Warrington Borough Council and local residents.
Emma Hutchinson, managing director of LiveWire, said: “We are working closely with other members of the working group to develop individual business cases which aim to sustain community library services across the borough.
“As part of this, we would like community organisations and local businesses to come forward if they have a desire to rent space out of Padgate Library.
“We have already started discussions with a number of organisations who have a strong desire to run their services out of other libraries across Warrington, and I would welcome dialogue with similar organisations that could help us secure the future of the library in Padgate.”
Any groups, businesses or organisations who are interested in a discussion about potentially taking part in a co-location model at Padgate Library, can get in touch with Matt Parker at LiveWire via firstname.lastname@example.org or on 01925 625332.