Partner Article

Wet ‘N’ Wild enters administration

Popular North Tyneside indoor waterpark, Wet ‘N’ Wild has fallen into administration, endangering 69 jobs.

Toby Underwood and Ian Green of PwC were appointed as administrators of Wet ‘N’ Wild Enterprises Ltd on Monday, October 14.

Toby Underwood, joint administrator and partner at PwC, said: “Despite operating profitably for much of the year the business faced liquidity issues over the forthcoming months. The directors therefore had no option but to place the company into administration.

“Unfortunately, with the quieter winter trading period upon us we have had no alternative but to close the waterpark with immediate effect and make the majority of employees redundant. We will continue to maintain the waterpark whilst seeking a sale.

“Clearly we are very keen to hear from anyone with an interest in acquiring the business and assets, and would encourage parties to contact us as soon as possible.”

Wet ‘N’ Wild was opened in 1993 and claimed to be the largest waterpark of its kind in the UK.

This was posted in Bdaily's Members' News section by Tom Keighley .