Theme park up for distressed sale

Thu, 10 Dec 2015 | BUSINESS SALE

A theme park in Lincolnshire has been put up for sale after entering administration in August 2014.

Fantasy Island collapsed with debts of more than £50 million, despite attracting up to 40,000 visitors a day during peak summer season.

The company's financial position has been under review since August but now administrator Benjamin Wiles, of Duff and Phelps, has confirmed that the distressed business is up for sale.

Interested parties have been informed of the sale. The letter noted: “I advise that we have now begun the process of marketing the business for sale. Unfortunately, a likely time frame for the proposed sale cannot be provided at this time.”

He added that any licence agreement entered into will remain in force for the next year and will be accounted for in any sale transaction.

Fantasy Island opened in 1995 and is located in Ingoldmells, near Skegness, in the middle of one of the biggest holiday parks in the country. Among its most popular rides is the Jubilee Odyssey, a roller coaster opened in 2002 to mark the Golden Jubilee of Queen Elizabeth II.


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