Wet 'N' Wild waterpark in North Shields, UK, has gone into administration, resulting in the loss of 69 jobs.

Despite being profitable for much of the year, a holding message on the 20-year-old waterpark's website reads: "Wet N Wild Enterprises Ltd entered administration October 14 2013. The business has ceased trading and the water park will be closed until further notice."

The company had been working with North Tyneside Council to pay off tens of thousands of pounds worth of business rates and other liabilities.

PricewaterhouseCoopers has been appointed as administrators and is now hunting for a buyer for the parent company.