Oakwood theme park in South Wales has closed after 38 years of operation, its owners said today.
Spanish owners Aspro Parks cited “unrelenting economic challenges” and increases in costs as factors behind the decision.
“It is with much sadness that we have to announce the immediate closure of Oakwood Theme Park and confirm the park will not open for the 2025 season,” a statement read.
“Following a strategic review of the business, Aspro Parks, owner and operator of Oakwood Theme Park have reached this difficult decision due to the challenges presented by the current business environment.”
Aspro said that “all possible avenues” had been explored to avoid the closure.
“We fully recognise the impact of the closure on the local community and the loss that will be felt as a result,” the statement added.
Investment
Aspro took over Oakwood in 2008, and the highly-regarded Megafobia wooden rollercoaster received a multi-million pound refurbishment in 2023.
“Despite the ongoing investment visitor numbers have declined,” Aspro said today.
“The financial performance of the park has suffered, making further investment unsustainable.
“The unrelenting economic challenges ahead, increases in costs, affecting all areas of the operation from; ride parts to electricity costs, food and beverage inflation, increases in [National Living Wage] and changes to national insurance thresholds have all impacted the decision.”
The Spanish owners said that they had “never closed any park attraction” to date.
It thanked staff, suppliers, and visitors for making Oakwood a “special place”.
Aspro Parks has been approached for comment.
UK industry challenges
In the latest public accounts, many British theme park operators have cited increased pressures on consumer spending amidst the so-called cost of living crisis.
Oakwood’s closure represents a further major theme park closure announced in four months, after Flambards’ closure in November last year.
Meanwhile, in its latest accounts, Pleasurewood Hills trebled its losses to £340,000.
And Blackpool Pleasure Beach has reduced its number of operating rides in the 2025 season after an operational review.
Considerable cost-saving initiatives have also been rolled out at attractions operated by Merlin Entertainments.
Merlin’s changes have seen reduced opening times and above-inflation rises in secondary spend items including food and drink.
The company’s Sea Life Centres are also widely understood to have been earmarked for offloading or closure later this year.
Meanwhile, a major new theme park operated by Universal is expected to be shortly given the go-ahead for a site south of Bedford.