Skegness theme park Fantasy Island in administration

Fantasy Island, which employs over 170 staff, attracts up to 40,000 visitors a day

A seaside theme park that attracts up to 40,000 visitors a day has gone into administration.

Fantasy Island, a 41-acre site in Ingoldmells near Skegness, employs 52 permanent and 120 seasonal staff.

The appointed administrator said no job losses are expected during the summer but gave no indication of the park's long term prospects.

A spokesman said Fantasy Island will continue to operate "as normal" while its finances are reviewed.

Oompah band

The theme park is also home to what claims to be "Europe's largest seven-day market" and 340 static caravan pitches.

As well as rides the park, which opened in 1995, has many live acts throughout the season, including a British oompah band and various tribute acts.

Duff & Phelps Ltd, which has been appointed as administrator, said the company owned by Conduit Skegness would continue as normal until the various businesses on the site had been assessed.

Paul Clark, from the administration team, said: "Fantasy Island is an important leisure destination and as we head into one of the busiest months of the year it is very much business as usual.

"Customers should be assured that this will not impact their experience, whether they are visiting the rides, market or one of the shows.

"It's also important for employees to know that their jobs will not be impacted during these busy summer months and we look forward to working with the team."

He said it was too early to say what would happen over the winter, but added the business was being treated as a going concern and potential investors were welcome to register their interest.