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View Full Version : Theme-park chain Six Flags files for bankruptcy



SarasotaRepub
06-13-2009, 08:59 PM
(CNN) -- In an effort to shed $1.8 billion in debt, popular theme-park chain Six Flags announced Saturday that it was filing for Chapter 11 bankruptcy.

The filing will not affect the operation of the company's 20 parks in the United States, Mexico and Canada, said spokeswoman Sandra Daniels.

"This restructuring will have no impact on families who come out to our parks. They will not see an inch of difference," Daniels said.

In an online letter to employees, President and CEO Mark Shapiro said Six Flags inherited a $2.4 billion debt load that "cannot be refinanced in these financial markets."

"This process is strictly a financial restructuring of our debt and that's how you should view it and speak about it," Shapiro said in the message posted on the Six Flags Web site.

LINKY (http://www.cnn.com/2009/US/06/13/six.flags.bankruptcy/index.html)

:eek:

stsinner
06-13-2009, 09:07 PM
How is it that Six Flags can file for bankruptcy and we won't notice a bit of difference when visiting their parks, but GM files for bankruptcy and has to move some operations to China and lay off thousands?

Also, they're 1.8 billion in debt and filing bankruptcy, but nothing is going to change.. Seems odd to me. What's the definition of insanity again? Oh yeah-doing the same thing over and over and expecting a different result.

They're trying to get back o the "solid ground" of only have $800 million in debt and they made only $275 million last year.. Wow, how corporate finance confuses me..

SarasotaRepub
06-13-2009, 09:16 PM
I'm sure Bu$hCo is somehow responsible for this. :mad:

I know he hates RollerCoasters. That was reported on Raw Story!!!! :rolleyes: :D

PoliCon
06-13-2009, 09:27 PM
How is it that Six Flags can file for bankruptcy and we won't notice a bit of difference when visiting their parks, but GM files for bankruptcy and has to move some operations to China and lay off thousands?EASY. 6 Flags is not dealing with the UAW.

Rockntractor
06-13-2009, 09:32 PM
They should probably just cut down to three flags and be happy with that.

SarasotaRepub
06-13-2009, 09:39 PM
They should probably just cut down to three flags and be happy with that.

:D Them Jews will never agree to it!!!