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."
More top news
National Dialect Day was a chance to use and celebrate the country's rich and diverse dialects.
Police in Newcastle have arrested 13 people as part of a campaign to tackle crime and disorder in the west end.
Kerrie Gosney brings you Sunday night's forecast for the Tyne Tees region