One of Britain's most iconic theme parks is facing significant financial challenges. Blackpool Pleasure Beach has posted a £2.7million pre-tax loss, forcing management to close some rides and reduce staff numbers.
Founded nearly 130 years ago in 1896, the historic Lancashire seafront attraction is home to some of Britain's oldest rollercoasters, including the Big Dipper.
Park bosses have revealed they are struggling with visitor numbers that have not recovered since the pandemic.
Some rides will open later and close earlier this year as the venue attempts to reduce costs.
Some rides will open later and close earlier this year as the venue attempts to reduce costs
GETTY
The park has also warned that the ongoing cost-of-living crisis is "depressing non-essential spend" among potential visitors.
Director Jonathan Gray, writing on behalf of the board, said: "Trading in the current year has been extremely difficult due to many external factors beyond our control."
"The cost-of-living crisis is ongoing. We do not foresee any short-term change. We continue to review our operation with a view to making the business more efficient and sustainable."
The park is implementing a headcount review and examining its assets to improve sustainability.
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According to accounts filed for the financial year ending March 24, 2024, the park had a turnover of £32.1million, slightly up from £31.8 million the previous year.
However, the Companies House return revealed the pre-tax loss of £2.7million had worsened significantly from a £520,000 loss recorded the year before.
The park is bracing for further financial pressure next month when employer costs are set to rise significantly.
From April 1, 2025, the National Insurance contribution rate for employers will increase from 13.8 per cent to 15 per cent, with the threshold reduced from £9,100 to £5,000 annually.
The park is implementing a headcount review and examining its assets to improve sustainability
GETTY
Additionally, the national living wage for workers aged 21 and over will rise by 6.7 per cent to £12.21 an hour.
Despite these financial challenges, Blackpool Pleasure Beach has recently unveiled ambitious plans for a new £8.7million spinning pendulum ride.
The attraction, dubbed 'Project MMXXVI', will reach 138ft when it opens next year.
The investment comes as the park also implements energy efficiency measures, including LED lights and a new staff canteen with a ground source heat pump.
Blackpool Pleasure Beach's struggles reflect a wider trend affecting UK theme parks. Earlier this month, Oakwood Theme Park in Pembrokeshire closed suddenly after 37 years, citing rising costs and falling visitor numbers.
Adventure Island in Southend-on-Sea has raised ticket prices by 25 per cent, while Britain's oldest theme park, Wicksteed Park in Kettering, has warned it faces potential closure.
Flambards in Cornwall shut last November after 48 years of operation.
