RKF Entertainment went into receivership during the early 1990s and construction of the park was halted. The site was sold to Robert Gibb, the managing director of Flamingo Land in Malton, North Yorkshire. Gibb decided to continue with the redevelopment of the site as a theme park, which became Pleasure Island. Reconstruction of the park was completed by Gibb in 1992 and Pleasure Island Family Theme Park was opened on 27 May 1993. Robert Gibb's son, Gordon Gibb, later became the chief executive of the company to directly run Flamingo Land, while his sister Vicky Gibb, and subsequently other sister Melanie Wood (formerly Gibb), took the responsibility for the management of Pleasure Island.