The business which leases Scarborough's waterpark from the council says it still believes Alpamare is the best company to run the facility.
Benchmark Leisure Ltd says it still has confidence in Alpamare, despite its recent financial worries which has seen it announce that the park will only be open at weekends and holidays in the future.
A winding-up petition against Alpamare was due to be heard at the Royal Courts of Justice in London today but British Gas Trading has confirmed it will be applying to withdraw proceedings.
Scarborough Council granted a 35-year lease for the waterpark and adjoining car park to Benchmark Leisure Ltd. The council gave Benchmark a £9 million unsecured loan to facilitate the development of the £14 million waterpark.
A spokesperson for Benchmark Leisure said: "The issues currently being experienced by Alpamare will result in lessons being learnt by the company and does not alter the fact that it runs very successful water parks throughout Europe.
"We have retained the long-term lease for the site, from the council, and we feel Alpamare is the best operator to run the water park in the future.