Blackpool Pleasure Beach to close rides and cut staff amid financial pressures

In newly filed accounts for the year ending 24 March 2024, the historic amusement park reported a pre-tax loss of nearly £1.7 million, compared to a profit of £286,912 the previous year. Turnover remained flat at £37.2 million, while costs rose sharply.

The company cited high inflation, interest rates, and “significant increases” in the National Minimum Wage as key factors impacting profitability. It also blamed poor weather during peak trading periods and ongoing fallout from the cost-of-living crisis, which it says has made visitors more hesitant.

“The continuing cost-of-living crisis has made customers hesitant,” the board said in a statement. “Poor weather during key trading periods also acted as a contributor restricting visits to the park and the hotel. High inflation, high interest rates and significant increases in the minimum wage puts additional stress on our cost lines, making profit harder to achieve.”

Attendance at the park rose by 2%, and revenue ticked up slightly from £31.8 million to £32.1 million. However, cost of sales jumped 11%, leading to a pre-tax loss of £2.7 million for the park itself.

In response, the company said it is undertaking a review of staffing and ride operations. Several rides will not reopen for the 2024 season, and some attractions will operate with shortened hours to reduce costs.

“The company has instigated a headcount review and a review of the assets on park,” the statement continued. “As a result a number of rides will be closed for the forthcoming season. We are also looking at how we profile the opening and closing times of both individual rides and the park itself with a view to maximising efficiency (and therefore cost) whilst balancing it with achieving great customer satisfaction.”

The park’s hotel business also struggled, with turnover falling from £4.6 million to £4.3 million and occupancy levels remaining below pre-pandemic figures. “Our customers are being more cautious in order to protect their disposable income,” the company said.

Looking ahead, the park said trading conditions remain difficult with no immediate improvement in sight. “The cost-of-living crisis is ongoing. We do not foresee any short-term change,” the statement added. “We continue to review our operation with a view to making the business more efficient and sustainable.”

Founded in 1896, Blackpool Pleasure Beach remains one of the UK’s most well-known amusement parks.