Plans for a multi-million pound fantasy theme park scheme on land owned by East Durham College (EDC) at Houghall, near Durham, could be shelved.
According to the Sunderland Echo, the development is under threat after it was revealed that Orcestrator - the group behind the proposals - had ceased trading.
The plans for the 250-acre site (101-hectare) site at Houghall would have provided visitors with the opportunity to create their own Dark Ages-style adventure world.
However, EDC principal and chief executive Stuart Wesselby told the newspaper: "We are now exploring all avenues of how we can redevelop the Houghall site.