Mokai Gravity Canyon has closed after 16 years with the loss of six jobs.
But the Rangitikei tourist attraction is expected to re-open under new ownership with staff offered employment.
Director Alastair MacDonald said he closed the site early this month and was hoping to find a buyer who wanted to put money into upgrading the adventure tourism site.
"We've decided that it needed new ownership," he said. "It needed someone that could push it to a greater level."
It will be sold by tender.