The Six Flags amusement park company has entered Chapter 11 bankruptcy protection to help eliminate some of it’s $2.4 billion in debt. The company has been in negotiations to try and restructure the debt, but efforts have been fruitless in today’s economic climate. Six Flags is looking to eliminate $1.8 billion of it’s debt so it can focus on running it’s parks which have seen an increase in visitor counts this year.
Michigan will close 3 prisions and 5 prision camps in effort to plug the state budget gap of $1.4 billion. The move is expected to save around $120 million. No prisioners will be released early and will be transferred to other prisions. About 1,000 workers will lose their job as part of the closings.
Kiddieland in Chicago will close after the summer. The park operators lease the land from a trust and the lease runs out the end of this year. The park has announced it will close by the end of September.
