Wet 'N' Wild buyer search

Wet 'N' Wild Enterprises Ltd has gone into administration. The water park, in North Shields, opened in 1993.

Wet n' Wild enters administration

by Jonny Blair

The water park Wet n'Wild in North Tyneside has gone into administration and remains closed until further notice.

Administrators say the park will be maintained whilst they attempt to find a buyer, but the majority of its 69 staff has already been made redundant.

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Wet 'N' Wild goes into administration

Wet 'N' Wild Enterprises Ltd has gone into administration. The water park, in North Shields, opened in 1993.

“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 water park with immediate effect and make the majority of employees redundant. We will continue to maintain the water park whilst seeking a sale."

– Toby Underwood, joint administrator and partner at PwC