Oakwood Theme Park in Pembrokeshire has officially closed after almost 40 years of operation, with owner Aspro Parks stating the decision was made due to the “challenges presented by the current business environment.” Yet another clarion call for a change in attitude from Chancellor Rachel Reeves on the National Insurance tax hike.

Oakwood Theme Park in Pembrokeshire has closed with immediate effect after nearly 40 years, despite owner Aspro Parks having invested £25m in rides and upgrades since acquiring the attraction in 2008.

The announcement comes just one year after the multi-site operator completed a full renovation of the popular Megafobia roller coaster, and follows a review of the business brought on by declining visitor numbers and rising costs.

“Aspro Parks, owner and operator of Oakwood Theme Park, has reached this difficult decision due to the challenges presented by the current business environment,” said a statement from the company.  “All possible avenues have been explored to avoid the closure.”

“The unrelenting economic challenges ahead, increases in costs affecting all areas of the operation from ride parts to electricity costs, food and beverage inflation, increases in National Living Wage and changes to national insurance thresholds have all impacted the decision.”

Oakwood was Wales’ largest theme park, having been originally founded as a go-kart attraction in 1987 by the McNamara family, before they expanded the site with a number of major ride investments, such as the wooden roller coaster Megafobia in 1996, and Speed: No Limits in 2006.

Spanish-based leisure group Aspro purchased Oakwood in 2008 after the park experienced financial difficulties, however the attraction has since struggled to sustain customer numbers.

“In the entire history of Aspro we have never closed any park or attraction. We, and our dedicated team of staff has strived to overcome numerous challenges to continue to bring joy to families and visitors across the region and country. Unfortunately, we could no longer see a sustainable way forward and will seek to improve our other parks using the assets and where possible team elsewhere.”

Speaking to the Pembrokeshire Herald, Wales’ first minister Eluned Morgan said: “My immediate thoughts are with the staff who have lost their jobs and their livelihoods.”

“I urge Aspro Parks to do everything possible to support their employees at this difficult time, including exploring redeployment opportunities within their wider business. This closure highlights the pressures facing the tourism and hospitality industry.”

A petition has been launched in a last ditch attmpt to save the park. It reads: “We must demand that the Welsh Government step up, recognise the importance of Oakwood, and work to restore it before it becomes another lost piece of our national heritage.”

Whilst the government has issued words of  deep concern in response to the news, it’s unlikely to step in and save the day. The Welsh government played a disastrous role in the survival of the hospitality industry during the Covid and post-lockdown period – the idea that it would change this pattern of ineptitude is improbable.