Britain’s oldest theme park rescued from brink

BRITAIN’S oldest theme park has been saved from collapse after investors backed a £35m bid to transform its fortunes.

Dreamland in Margate, Kent, dates back to 1875 and had one of the UK’s first rollercoasters but fell on hard times. It suffered an arson attack and sold its ferris wheel to Mexico before being shut.

Reopened in 2015, it ran into difficulties and slipped into administration in 2016.

But hedge fund creditor Arrowgrass has now pumped in £35m to buy new rides, improve the park’s look and take over neighbouring properties.

It will save more than 60 full-time jobs and 250 seasonal ones. Hosting more concerts is a key part of the rescue – last year a show by the band Gorillaz sold out in 32 minutes.