The company, which runs five parks, had been placed into administration in November last year.

Pontin's had insisted that it remained profitable, saying it had been a victim of the credit crunch and struggled when its bank withdrew support.

Britannia Hotel Group operates 36 hotels around the UK.

Pontin's Barton Hall Torquay was where Home Electronic Organ Festivals started in 1980.   The Pakefield site is currently used twice yearly for a weeklong keyboard festival.