Camelot Theme Park near Chorley, Lancashire, has been placed into receivership having struggled to compete for visitors with rival attractions in recent years.

Les Ross and Malcolm Shierson from Grant Thornton accountants have been appointed as joint receivers of the attraction, which only operated for 20 weeks each year and was scheduled to reopen on 4 April. Camelot's 140-bedroom Park Hall Hotel will continue to trade as normal until a buyer is sought, although plans have already been put forward to redevelop the site into a mixed-use development incorporating residential and retail developments, as well as a health and fitness club and a village hall.

Ross said: "Camelot Theme Park has struggled for a number of years to compete with larger attractions such as Blackpool Pleasure Beach and Alton Towers. Visitor numbers had been in decline at the park. "The hotel had an extremely busy Christmas and New Year, and also has very healthy bookings for functions and short leisure breaks. However, it has suffered a significant reduction in corporate bookings due to the economic downturn."