Crisis-hit Paignton Zoo 'overwhelmed' by support

Paignton Zoo bosses have been  'overwhelmed' by the response from the community as it faces the most serious financial challenge in its 100-year-plus history.

Owners the Wild Planet Trust has confirmed it is looking for investors to secure a sustainable future for both Paignton and Newquay zoos. 

It is understood there has already been interest from across the UK and even further afield, including Europe.

Interim Chief Executive Stephen Kings said: "There have been conversations with potential investors and interested parties which is very encouraging. We are cautiously optimistic. But I have to emphasise that these are very, very early days."

He added: “The local response has been overwhelming. People are proud of Paignton and Paignton Zoo.”

It is also believed that Torbay Council leaders have met Mr Kings to offer their support. Besides the general public, the local authority and tourism industry, led by the English Riviera BID Company, will not want to see one of the Bay's and South Devon’s biggest and most popular attractions go under.

Council deputy leader Chris Lewis said: “We will fully support the zoo. They have been a main attraction in the Bay for many, many years. We will do everything we can to help them. I have met with them to show our support.”

He added: “I am aware there has been people interested and there are some prospective people interested in moving it forward which is really good news.”

Mr Kings said the Trust and zoos weren't necessarily up for sale adding: “We are exploring investment options, which could take different forms. This isn't about selling off the zoo, it’s about securing its future for the next 30 years.”

He emphasised: “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. 

“Securing investment will ensure we protect the long-term future of our conservation charity and continue to help halt species decline.”

Mr Kings was responding to the latest speculation about the future of the Trust when he said: “We are aware of information recently reported in the media regarding Wild Planet Trust looking for potential investors. 

“Whilst this disclosure was not made through our official channels, we can confirm the information is correct, and we have started to explore the possibility of securing investment.

“Confidentiality is crucial to this process, ensuring that all relevant parties have access to consistent, accurate, and timely information. 

“This confidential approach is in place to protect the interests of all involved, ensuring that no party is unfairly advantaged or disadvantaged by incomplete or speculative information.

"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.”

He emphasised that both Paignton and Newquay zoos are up and running as normal.

“Both Paignton and Newquay are fully open and welcoming visitors. All bookings and events are going ahead,” he said.

Financial accounts for the year ending October 31, 2023,show that the Wild Planet Trust charity had an income of £11.56 million, with the majority (£7.18 million) generated through charitable activities such as zoo admissions.

A further £4.01 million came from trading activities, while donations and legacies totalled £215,000. The trust’s total expenditure for the year, however, stood at £14.17 million.

Of that expenditure, £11.37 million was spent on charitable activities, with £2.81 million used to raise funds. The accounts also showed investment losses of £4,262.

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