Published: 17:40, 10 October 2017 |
Updated: 21:22, 10 October 2017
Dreamland has announced it is coming out of administration.
It follows a successful summer in which more than 500,000 people have visited the Margate-based amusement park since it reopened on May 26.
Sands Heritage Limited, which operates Dreamland, says it will be operating normally by the end of the month.
A ‘company voluntary arrangement’, which will allow the company to emerge from administration and continue trading, recently received unanimous support from creditors.
The news comes following a £25 million investment programme earlier this year that saw the park completely re-landscaped, its vintage rides meticulously restored and the introduction of contemporary street food and eclectic bars.
New live entertainment spaces completed the revitalised Dreamland with the 15,000 capacity Demon Dayz festival, headlined by Gorillaz, selling out in under an hour.
Dreamland’s Sunset Sessions, held throughout the summer, quickly became an established part of Margate’s evening entertainment, offering thousands of guests a combination of live music, renowned DJ’s and outdoor cinema.
Plans for 2018 Sunset Sessions are already well underway and will run throughout the summer.
Steven Mitchell, interim chief executive officer at Dreamland, said: “The successful exit from administration is the perfect end to a hugely successful summer for Dreamland Margate.
"Our team has worked hard to deliver massive improvements in the range and quality of the park’s offering for half a million people but this is only the start.
"As we come out of administration, we can look forward with real confidence and excitement as we deliver more of the unique, colourful and unexpected experiences that our customers have come to know us for already this summer.
"We have very ambitious plans for 2018 and beyond, and to ensure we succeed, we are adding another 15 people to the team – adding to the positive effect we are having in the local economy.
"There is also a fantastic opportunity for a new CEO to join and continue to shape the strategy and lead the Dreamland team to deliver the best day out in the UK.”
Thanet council leader Chris Wells said: “This is positive news and all part of the ongoing success of Dreamland.
"The park has successfully increased tourism, played a pivotal role in revitalising the local economy and boosted the wider regeneration of Margate.”
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