Theme parks are massive undertakings to say the least. The development costs are enormous, not to mention ongoing maintenance expenses and powering the whole operation. Plus, managers need hundreds, if not thousands, of people to run the park on a day-to-day basis. And that's not even taking into account the fact that theme parks have to constantly be updating and refurbishing everything, not to mention adding in new attractions on a rather consistent basis.
With the cost of doing business rising in every possible way, increasing ticket prices becomes the only way to keep the operation moving. But the reality is that there's a point where park goers can no longer afford the price to get in and inevitably stop going. Theme parks are luxuries, not necessities. That may be what happened at Oakwood Theme Park in Wales which recently shut down after costs became unmanageable for the parent company, Aspero Parks.
Originally opened in the late 1980s, Aspero took over Oakwood in 2008 and put an estimated £25 million into updating the entire facility. That included a major overhaul and renovation of Oakwood's iconic rollercoaster, the Megafobia. Increasing costs in parts, electricity, food and beverages, and wages combined with consistently declining ticket sales put Aspero in a position where the continued operation of Oakwood was completely untenable.
There are no plans as to what will happen with the site at this point. It is possible that another company may buy Oakwood from Aspero and try running it themselves. Unless the financial realities of running such a cost heavy venture improve, that seems unlikely. There is also the possibility that other parks in the region may purchase the rides and attractions, disassemble them, and then move them to their own facilities. Again, costs may prevent that from happening in most cases.