Gulliver’s Kingdom, a theme park based on Jonathan Swift’s novel, stood at the foot of Mount Fuji in Yamanashi Prefecture, according to The ParkDB and WebUrbanist. Its star attraction was a statue of Gulliver, 45 meters (about 148 feet) long, per Middle Edge.
The park opened in July 1997, near the end of Japan’s theme park boom. Developer Fuji Chuo Group spent more than $350 million on it, The ParkDB reported. The park’s main lender, Niigata Chuo Bank, carried more than $350 million in loans tied to the park, the site said.
The closest things to rides were a bobsled track and a luge course, WebUrbanist reported.
The park closed on Oct. 28, 2001, four years after it opened, per Middle Edge. The outlet cited a reputation hurt by the neighborhood, poor access without public transportation, and competition from nearby Fuji-Q Highland.
By then, the bank had collapsed. In 2002, the Kofu District Court handled the bank’s liquidation and the park’s auction, The Japan Times reported. The first two auctions drew no bidders. The minimum bid was 3.1 billion yen in the first round and 1.26 billion yen in the third.
Takagi Resort was the only bidder in the third auction. It paid 1.48 billion yen, The Japan Times said. That was about $12 million at the November 2002 exchange rate of 121.61 yen to the dollar, per the Federal Reserve.
The park’s structures were demolished in 2007, WebUrbanist said. Only exposed foundations remain.
Gulliver’s Kingdom was not the only theme park to go under within a few years. Freedomland U.S.A. cost $65 million to build in the Bronx in 1960, and it went bankrupt in 1964.
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