Lifestyle Living UK operates Lakeland View Residential Park at Nethertown, near Egremont and Silecroft Holiday Park, near Millom.
It has appointed Jason Baker and Miles Needham, of FRP Avisory, as joint administrators.
Mr Baker said: “Our priority is to maintain the day-to-day operations of the parks.
“We continue to trade the business and ensure that the holiday and residential parks operate as normal while actively marketing the business for sale.
“We have already engaged with interested parties and invite other interested parties to make early contact.”
Lifestyle Living caters primarily for the over-50s and operates another four parks in Norfolk and Suffolk. It is owned by David MacDonald who took over the company in 2014.
Eric Burton, chairman of Lakeland View residents’ association, said: “We have been told to stop all direct debits to Lifestyle Living UK.”
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