By Jonathan Morris

Copyright bbc

“Our unwavering commitment remains on providing our animals with the highest levels of welfare and husbandry, ensuring all of their physical, emotional and environmental needs are met,” said Wild Planet in the statement.

The trust, which owns Paignton Zoo and Newquay Zoo, said in July 2024 that it faced “crippling challenges” and action was required to ensure the future of the institutions, including cutting costs by about £1m in a year.

Its latest accounts blame inflationary pressures and increased staffing costs on its financial problems.

The latest statement said: “We have previously shared information regarding the financial challenges that we face, and whilst we have already taken appropriate action to try to ease these challenges, this is another avenue for us to investigate.”

It added that confidentiality was “crucial to this process, ensuring that all relevant parties have access to consistent, accurate, and timely information”.

“We will share more information when we are able to,” it said.

Tim Jones, from the South West Business Council, said although the problems were serious, they were “resolvable, in our opinion”.

He said: “It’s no surprise that currently with the market, the tourist market, hospitality market and inflation generally that there are some problems at the moment.

“This is an institution that we just cannot let fail.”