A BORTH zoo, which last week won a temporary reprieve from moves to wind the company up, is believed to owe creditors almost £350,000.

A petition at London’s High Court by creditors to wind up Borth Wild Animal Kingdom was adjourned by a top insolvency judge last Wednesday.

The zoo, which says it is dedicated to conservation and is a home for endangered animal species, was granted a reprieve for 42 days by Chief Registrar Judge Nicholas Briggs at the Insolvency and Companies Court.

A petition to wind up Borth Wild Animal Kingdom Ltd whose website motto is “A little zoo with a big heart” was applied for earlier this summer by one of its creditors, Grenke Leasing Ltd, of Guildford, Surrey.

At a brief hearing Grenke sought a compulsory winding up order over the debts owed to it.

However, the zoo successfully asked for time to allow a meeting scheduled for 28 August to take place. The judge adjourned the matter until 19 September.

If the move to wind up the company had succeeded, its affairs would effectively have been handed over to an Official Receiver.

Their job would then have been to do their best to ensure debts are paid off by selling any assets available and then bringing business to a close.

Owners Dean and Tracy Tweedy said: “Due to the zoo’s lengthy closure by the council following the lynx escape we regrettably have experienced financial difficulties.

“The sum of £350,000 actually includes the loan obtained to purchase the property and the money directors have used from personal funds to keep the zoo running.

“Now we are open and the summer is here we are in a much healthier position and with careful budgeting we will come out of these difficulties.”

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