Emergency services are working to secure a dam amid fears it could collapse after damage caused by extreme weather.
Authorities have told members of the public to "stay away" from the area in case residents and businesses need to be evacuated.
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Here's the latest from Ruth George, the MP for High Peak:
URGENT: This is the latest advice from Derbyshire Police re Toddbrook Reservoir and Whaley Bridge.
There is currently no evacuation taking place in Whaley Bridge at this time (as of 1pm today, Thursday 1 August) .
Business owners, and people who are not residents of the area, are being advised to leave to ensure that, should there be a requirement for an evacuation, then this can be done as quickly and safely as possible.
Volunteers are NOT required at the reservoir and we would ask for people to stay away from the area.
Photos from the scene show fairly spectacular damage to the wall.
Derbyshire Police confirm they are not yet evacuating the area but have asked business owners and non-residents to leave so, should an evacuation be required, it cane be done as quickly as possible:
The fire service is also attending the incident to put road diversions in place. Drivers are being asked to avoid the area:
An evacuation of Whaley Bridge has now been launched. Police have released a statement saying:
"Whaley Bridge is being evacuated due to the ongoing situation at Toddbrook Reservoir.
"If you are being asked to leave your home then please attend Chapel High School, Long Lane, Chapel-en-le-Frith, High Peak, SK23 0TQ, where further direction will be given.
"Police officers and staff will be at the school to provide further direction, though at this time we are not sure how long the evacuation will take.
"Residents are asked to make alternative arrangements to stay with friends and family, ensure that any pets are taken with them and that all medication that may be needed for a number of days is taken with them.
"If people do not have somewhere to go then they will be accommodated, however, there is limited capacity to do so.
"If you are unable to leave your own home and require assistance please contact 101 and ask for the police."
The evacuation announcement came almost simultaneously with the Environment Agency issuing a "severe flood - danger to life" warning - its highest alert.
In a statement, the agency said:
"River levels in the River Goyt could rise rapidly as a result of water coming from Toddbrook Reservoir on 01/08/2019 at 14:00...
"If you believe that you are in immediate danger, please call 999. Please be aware of your surroundings, keep up to date with the current situation, and avoid using low lying footpaths near local watercourses."
Derbyshire Police confirm evacuation in new tweet:
More pictures now showing the sheer scale of the damage to the reservoir wall:
From this angle, the damage to the wall actually looks more severe than it had appeared in those first images:
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