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06-13-2009, 10:39 PM
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Hero
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Join Date: Jan 2007
Posts: 6,492
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Six Flags files for Chapter 11 bankruptcy
Quote:
NEW YORK — The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt.
Mark Shapiro, the New York-based company's chief executive officer, says the move won't affect the operation of its 20 theme parks in the U.S., Mexico and Canada.
Six Flags says it actually had a great year in 2008. It saw 25 million visitors and posted record revenues. But executives are trying to lighten a $2.4 billion debt load that they say is unsustainable.
Saturday's bankruptcy filing came after an earlier plan to negotiate an out-of-court deal with creditors failed.
Six Flags shares have traded below $1 since September. They closed at 26 cents on Friday.
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http://www.huffingtonpost.com/2009/0..._n_215206.html
Add it to the list. |
06-13-2009, 11:09 PM
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Grand Master
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Join Date: Nov 2008
Location: SFA
Posts: 2,780
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Re: Six Flags files for Chapter 11 bankruptcy
Heard they would months back. Sucks they did. White water is also gone too ='(
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06-13-2009, 11:31 PM
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Active Member
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Join Date: May 2009
Location: Russia
Posts: 181
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Re: Six Flags files for Chapter 11 bankruptcy
Quote:
Originally Posted by The Riddler_
White water is also gone too ='(
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What do you mean? I don't live in Atlanta anymore. Are they shutting White Water down? |
06-14-2009, 12:36 AM
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Grand Master
BANNED
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Join Date: Mar 2007
Posts: 4,458
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Re: Six Flags files for Chapter 11 bankruptcy
DAMNIT!!!!!!!!!!! Only fun place to go this summer... ruined.
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06-14-2009, 02:55 AM
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Forum Addict
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Join Date: Dec 2008
Location: 127.0.0.1
Posts: 397
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Re: Six Flags files for Chapter 11 bankruptcy
Don't you Americans have King's Island etc still around? Wonderland is still here.
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Join the WoW section! All the cool kids are doing it. (unb4nn3d, Clank, Finniscool, Megamatt, Tgump, Mateo, chaosspartan etc.)
Quote:
Originally Posted by Louis :)
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06-14-2009, 03:01 AM
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Guru
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Join Date: Nov 2005
Location: Florida
Posts: 1,788
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Re: Six Flags files for Chapter 11 bankruptcy
Let them go bankrupt. I'll be so pissed if the government bails them out only for them to go bankrupt again.
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06-14-2009, 03:01 AM
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Re: Six Flags files for Chapter 11 bankruptcy
Fuck six flags and their long ass lines
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06-14-2009, 06:48 AM
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Grand Master
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Join Date: Nov 2008
Location: SFA
Posts: 2,780
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Re: Six Flags files for Chapter 11 bankruptcy
Quote:
Originally Posted by Gadsden
What do you mean? I don't live in Atlanta anymore. Are they shutting White Water down?
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White Water was owned by Six Flags =( Sadly, it will go under also.
Quote:
Originally Posted by dam prayer noobs
Let them go bankrupt. I'll be so pissed if the government bails them out only for them to go bankrupt again.
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Kay.
Quote:
Originally Posted by gohanforever
Fuck six flags and their long ass lines
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L
[quote=<(  )>;4992564]
How relevant. |
06-14-2009, 07:41 AM
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♬♩ Young Forever ♪ ♫
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Join Date: Feb 2007
Posts: 6,499
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Re: Six Flags files for Chapter 11 bankruptcy
Can any of you guys read? 
Quote:
Originally Posted by Tgump
Mark Shapiro, the New York-based company's chief executive officer, says the move won't affect the operation of its 20 theme parks in the U.S., Mexico and Canada.
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The parks aren't physically closing down only reorganizing. Last year Six Flags made 275 million, but ended up paying 175 million in interest expenses.
Last edited by Nick : 06-14-2009 at 07:44 AM.
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06-14-2009, 03:58 PM
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Death Or Glory
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Join Date: May 2007
Location: Ontario, Canada
Posts: 6,084
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Re: Six Flags files for Chapter 11 bankruptcy
I was surprised to see that Darien Lake wasn't part of Six Flags anymore
(I go there almost every year, checked the website a few months ago)
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Six Flags files for Chapter 11 bankruptcy
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