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.
Six Flags in Trouble
March 26, 2009 — Colione
Six Flags may be in serious trouble. The company has a $300 million debt payment due this summer and has indicated it may not be able to make the payment unless it’s able to restructure it’s debt. Restructuring the debt may be troublesome since the financial markets are still in turmoil due to the recession. This could mean discounts for companies that actually have enough money to buy some of Six Flag’s parks.
