A theme park in Skegness that attracts up to 40,000 visitors a day has gone into administration, putting the future of the park in doubt.

Fantasy Island will continue to “operate as normal” and no job losses are expected, according to a park spokesman while the attraction’s finances and businesses on the site are assessed.

The park, which opened in 1995, has many live acts throughout the season, is also home to what it calls “Europe’s largest seven-day market” and contains 340 static caravan homes.

Duff & Phelps has been appointed as administrator, with Paul Clark, from the administration team, stating: "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."

Clark also said it was “too early to tell” what would happen during the winter months, but added potential investors were welcome to register their interest in the attraction.