CREDITORS have called for a meeting after an Aberystwyth ping-pong bar went into voluntary liquidation with five-figure losses, the Cambrian News can reveal.

The size of the losses at the Wiff Waff Bar on Market Street, which closed on 26 May less than two years after opening, are not known, but the latest available accounts for the company show a loss of £45,425 for the period to February 2015.

Owner Chris Mackenzie-Grieve of Llandre, who also owns the popular MG’s Cafe on Chalybeate Street with his wife Sam, admitted the bar – which opened in September 2014 as Wales’ first table tennis-themed bar – closed “as a result of poor trade”.

The company behind the bar, WiffWaffBars Limited, has had its credit rating suspended after entering voluntary liquidation and an intention to call a creditors meeting was issued on 25 May.

It is understood that Mr Mackenzie-­Grieve, the Aberystwyth Chamber of Commerce chair, has now put MG’s Cafe up for sale confidentially with nationwide agents Turner Butler for around £120,000 as a leasehold, but Mr Mackenzie-Grive insisted that the losses at Wiff Waff “did not have an effect” on MG’s at all.

Mr Mackenzie-Grieve told the Cambrian News: “Wiff Waff closed as a result of poor trade and an opportunity to assign the lease.

“The company is in voluntary liquidation which was deemed on the advice of accountants the best way to close the business.

“The voluntary liquidation was made after the offer of assignment of the lease. [The liquidation of Wiff Waff] does not have any effect on MG’s at all.”

The lease of the former WiffWaff bar has been handed over, but it is not known what will take its place.

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