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
Football presenter Jeff Stelling and the family of Bradley Lowery have been recognised for their fundraising at the JustGiving awards.
After a wet and windy day things turn colder from tomorrow.
Philip Tron was among the 22 victims killed in the terror attack in Manchester in May. Mum June has spoken out for the first time