"I feel very sorry for the people of Weston, for them the pier was Weston. In these difficult economic times I sincerely hope that this event doesn't bring further hardship to those businesses and people who rely on our tourist trade.
"I would like to assure all these people that we will work tirelessly to restore this magnificent structure to its former glory."
The pier had undergone a massive revamp last April after being sold in a multi-million pound deal to the Michaels.
A new £500,000 indoor go-kart track had just opened, with the addition of a climbing wall.
There are some 100 people employed on the pier, who are now facing an uncertain future as a result of the fire.
Fire service spokesman Jerry O' Brien said they did not think the steel girders which were holding up the pier were in danger of buckling.
Kerry Michael says his thoughts are with those who worked on the pier
He said: "Once a fire takes hold of a building like that - and bear in mind that we're operating a quarter of a mile from land there - it can be very easy to lose a building fairly quickly."
Robert Tinker, who has worked on the pier for 40 years and was one of the first on the scene on Monday morning, told BBC News he had removed explosive gas cylinders from the nearby workshops.
"By the time we removed them, it was getting very hot and the whole pier was alight," he said.
Meanwhile, an engineering expert who worked in the aftermath of the Windsor Castle fire 16 years ago questioned whether the pier had adequate protection.
Paul Scott, head of fire and risk at engineering consultant Faber Maunsell, said: "It is tragic that such a historic and well-used structure should suffer such serious fire damage.
"Recent experience shows that piers are vulnerable to fire and under threat.
"As the pier was required to have a risk assessment under new legislation, was it adequate?" he said.
Anthony Wills, of the National Piers Society, told BBC News the pier had been one of the most commercially successful in England.
He said: "I have yet to see the full extent of the damage but it looks as though below the decking it is sound.
"It will be a very expensive business and I am not sure whether the structure was insured - it can be very difficult to get insurance for piers.
"Unfortunately, because it is privately owned it is not eligible for lottery money."
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