NEWPORT'S last city centre cinema is being run by the owners of its building - after the collapse of the cinema management company.

City Cinema, on Bridge Street, was being run by a company called Zoo Cinema (Wales) Ltd, whose directors were Clare Binns and David White.

This company and its holding company Zoo Cinema Exhibitions Ltd recently entered voluntary liquidation.

Consultant to Newport Holdings, Richard Hayward, a former owner of the cinema, said: "We are now going to have one last-ditch attempt at running the cinema to see if we can make it viable as a city-centre attraction.

"The staff have been very supportive and we have bought in some extra expertise. "If we make a go of it we may be able to attract a company to take it on.

"The alternative would be to convert the cinema into a bar and nightclub and we have already had offers from operators to do this."

Zoo Cinema (Wales) res-igned its management contract with Newport Holdings on January 16. It held an extraordinary general meeting in Newport on March 7 and a resolution was passed to wind-up the company due to its liabilities.

Liquidators Begbies Traynor, of Gray's Inn, London, were appointed. Begbies Traynor manager Michaela Hall said: "The cinema operation was struggling for some time but held on till Christmas in the hope that big films such as Lord of The Rings and Harry Potter would lift attendances.

"When this failed to happen the directors felt they had no choice but to cease trading. "The liabilities of the company amount to £110,000, of which 17,000 was owed to Zoo Exhibitions - its own holding company.

"Of the remainder, £40,000 was owed to the landlord, Newport Holdings, and the rest mainly to film suppliers."

Newport Holdings recently won a planning decision on appeal to convert three empty shops beneath City Cinema into a bar and restaurant for J D Wether-spoons.