The theme park has been struggling against competitors
The troubled Lancashire theme park Camelot will reopen in May after a buyer was found for the site.
The park at Charnock Richard, near Chorley, went into receivership in February after struggling to compete against other attractions.
It has been bought by Cumbria-based The Story Group, which, in the long term, intends to pursue previous plans for a residential development on the site.
In the short-term, receivers said the deal had secured more than 150 jobs.
Camelot has been leased to newly-formed leisure group, Knights Leisure, which is being run by Roy Page, the former chief executive of its previous owner, Prime Resorts.
Mr Page said the brownfield site's long-term future was still likely to be a major mixed-use development.
But he added: "We are concentrating on now by putting all our energy into preparing the park and rides for the new season.
"There's already a buzz about the place which we are sure will regain its position as one of the region's leading family visitor attractions."
Mr Page said the majority of Camelot's entertainment staff had pledged their support and recruitment for seasonal staff would begin soon.
Les Ross, one of the receivers appointed to Camelot, said: "This deal has secured more than 150 jobs , both full-time and seasonal, in the short term while the new owners submit a planning application for an alternative use for the site.
"This is not only a significant announcement for staff but also for the local economy as well."