Margate's Dreamland theme park to come out of administration

A Kent theme park plagued by financial problems is to come out of administration at the end of the month.

Sands Heritage Ltd, which operates Dreamland in Margate, called in administrators last year.

The company announced creditors had unanimously voted in a 'Company Voluntary Arrangement' to emerge from administration and continue trading.

It follows a £25m revamp and agreement not to repay in full businesses which had invested in the park.

Steven Mitchell, interim CEO at Dreamland, said the news was "the perfect end to a hugely successful summer".

He added: "Our team has worked hard to deliver massive improvements in the range and quality of the park's offering."

More than 500,000 people visited the vintage fairground after the summer re-opening on 26 May.

The renovation saw the park re-landscaped, rides restored and live entertainment spaces, bars and street food introduced.

The Demon Dayz festival, headlined by Gorillaz, also sold out in under an hour.

Mr Mitchell said they have "ambitious plans for 2018 and beyond" with Dreamland's Sunset Sessions set to return, featuring a combination of live music, renowned DJs and outdoor cinema.

Chris Wells, leader of Thanet District Council, 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."