In a statement released to The Gazette, Michael Simmons and Mr Matthew Hughes, directors of Simmo Developments, said they were "devastated at the tragic destruction of Fleetwood Pier".

Mr Simmons - widely known as Blackpool entertainer Joey Blower - bought the Edwardian pier last year before unveiling plans to build more than 80 apartments on the site.

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The statement read: "It is common knowledge we had bought the pier with a view to re-developing it and clearly we will now have to review our plans going forward.

"The actual cause of the fire is still under investigation although we have been told that it is being treated as suspicious. We are hoping the authorities will be able to quickly establish what has happened and if it was started deliberately the police will be able to bring those responsible to justice. To this end we are helping the police as best we can.

Click here to see The Gazette's online Pier fire special

"The fire and police authorities had advised us to board up the pier as a precautionary measure. We followed this advice but it would appear that our efforts were not successful.

"We believed that the plans we had for the pier would have had a significant benefit to the local community and are sure that they will feel the loss of this local landmark along with us.

"Unfortunately, we had taken the business decision not to insure the structure itself in light of our redevelopment plans that we had hoped to put in place very shortly. Consequently there is also a significant financial loss that we will have to carry as a result of this incident."