Oakwood Theme Park Closes After 40 Years | Financial Struggles & Declining Visitors
The largest theme park in Wales, Oakwood Theme Park, has announced immediate closure following over forty years of operation. Aspro Parks, the Spanish-owned company owning Oakwood Theme Park since 2008, agreed upon the result. The company said that the major reasons the well-known attraction closed were declining visitor numbers, rising operational costs, and ongoing economic hardships.
Aspro Parks said that further investment in Oakwood Theme Park was unsustainable even with an expenditure of over £25 million to keep the park operational.
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Aspro Parks underlined in a statement several financial difficulties, including rising ride portion, power, food and drink inflation, and increased National Living Wage rates. Changes to national insurance thresholds also played a role in making continued operation unviable. As a result, the company made the difficult decision to close Oakwood Theme Park permanently and shift its focus to improving its other parks using assets and, where possible, relocating team members.
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From the late 1980s, Oakwood Theme Park has been a main draw in Pembrokeshire, known for its exciting rides like Megafobia, Vertigo, Speed, and the Hydro ride—later renamed Drenched following a catastrophic accident in 2004. A 16-year-old girl fell from the ride, and the event resulted in a coroner ruling out illegal killing but pointing up severe safety flaws. Oakwood Leisure was fined £250,000 in 2008 and directed to pay £80,000 in expenses for inadequate use of appropriate safety measures. In July 2024, the park had another safety concern when the Bounce drop tower ride customers suffered slight lower back discomfort during an emergency halt.
Aspro Parks, which operates 68 attractions across Europe, including aquariums in Cheshire, Portsmouth, Newquay, Fife, Bristol, and Tynemouth, emphasized that Oakwood Theme Park is the first park it has ever closed. The company expressed sadness over the decision, acknowledging that Oakwood Theme Park had been a cherished destination for generations. Aspro Parks also thanked its committed staff, vendors, and devoted guests who over the years have helped the theme park.
The local economy is projected to suffer greatly with Oakwood Theme Park closing. During peak seasons, the park hired up to 200 workers, and nearby businesses gained from the visitors it drew. The Welsh government has stated that it is prepared to support affected workers, with First Minister Eluned Morgan urging Aspro Parks to explore redeployment opportunities within its wider business. Meanwhile, Carmarthen West and South Pembrokeshire Member of the Senedd, Samuel Kurtz, called the closure “deeply sad” and recognized Oakwood Theme Park’s special place in the hearts of many visitors.
Closing Oakwood Theme Park is a great loss to rollercoaster enthusiasts like Ryan Hackett. Riding the Megafobia rollercoaster 6,200 times, Milford Haven superfan Hackett set goals for 7,000 rides. The news was “gutting,” he added, and he hoped a buyer may be found to save the park.
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The UK Treasury acknowledged the commercial decision to close the park and noted that its latest budget measures would result in lower or unchanged national insurance bills for more than half of employers. However, businesses like Oakwood Theme Park have struggled to cope with post-pandemic cost increases and rising financial pressures. Industry specialists warn that the closing of Oakwood Theme Park reminds us soberly of the financial difficulties the travel and leisure sector must cope with.
Before its announced closure, Oakwood Theme Park was supposed to return for the 2025 season. The fate of the site is yet uncertain as the doors remain sealed; equally unknown is if a new investor will intervene to bring back the once-iconic beauty.
