Drayton Manor has filed notice of its intent to appoint administrators.
The Staffordshire theme park and zoo will continue to operate as normal, owners have said in an email to staff.
RideRater understands that the Mellors Group, which took over Fantasy Island in 2016, was initially positioning itself to acquire the Tamworth attraction.
The group registered the company Drayton Manor Operations Limited on 13 July, but their current intentions have not been confirmed.
Drayton Manor has been operated by the Bryan family since its founding in 1950.
The park said it was at a “very advanced stage” of securing “fresh investment” which would not result in any job losses.
The park reopened on 4 July following several months of enforced closure due to the COVID-19 pandemic.
It reported a loss of £1.8 million in its latest accounts, which covered the year to February 2019. The previous reporting period showed a loss of almost £3.9 million.