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Producer of Pocoyo begin bankruptcy procedings

Thu 31st Oct 2013
Producer of Pocoyo  begin bankruptcy procedings

The production company behind the international children's TV program "Pocoyo" has started bankruptcy protection proceedings, authorities reported earlier today.

The animated show's producer - Zinkia - applied to refinance its debts, citing problems in meeting imminent payments, in a statement to the Spanish stock market regulator.

Pocoyo, which is narrated by Stephen Fry in the English language version, is exported form Spain to a number of countries.

The series is centered around the life of the show's namesake, who is dressed in a blue outfit and matching hat with earflaps, where he loves to dance to music from magic flowers with his friends Elly, a pink elephant, and Pato, a grumpy yellow duck.

Zinkia applied for a court to oversee negotiations with its creditors, one step towards possible bankruptcy under Spanish law which allows the company 4 months to attempt to resurrect their finances before filing for bankruptcy protection.