The council said project delivery partner Alliance Leisure moved quickly to replace Curo after the London-based firm collapsed earlier this week.
All pre-contract work with Curo has now been terminated, with Speller Metcalfe appointed to take forward the Whittlesey leisure centre redevelopment scheme.
According to the council, an immediate review of alternative contractors was carried out to minimise disruption and avoid delays to the planned upgrade programme.
The project will transform Manor Leisure Centre with a new café, a refurbished swimming pool and new covered padel tennis courts.
The scheme still requires planning permission and formal cabinet approval before construction can begin, with a final decision expected in July.