Nickelodeon, the children’s television network and entertainment franchise, has shelved its plans to redevelop the Six Flags theme park in New Orleans, US.

In August, the Viacom subsidiary announced a partnership deal with Southern Star Amusement to rebuild the park, which was damaged by Hurricane Katrina in 2005.

Now, however, Nickelodeon said has ended its relationship with Southern Star due to the fledgling group’s "failure to meet important contractual requirements and deadlines".

It is understood that Southern Star intends to fight for the deal, while a prepared statement from Nickelodeon suggests that the group is open to finding another partner.

"Nickelodeon still believes that New Orleans is a viable location for a licensed Nickelodeon-themed destination, and we remain open to exploring options for moving this project forward," the company said.