Six Flags: Another One Bites The Dust
 Monday, June 15th, 2009 by Connie T.
We were wondering what was up with Six Flags when the amusement park giant pulled out of Ohio...the
former Sea World, former Geauga Lakes and now Wild Water Fun is a prime location. Well, it's been announced that the New York-based chain of
US parks,
headed up by Dan Snyder (also owner of the Washington Redskins), has filed for Chapter 11 bankruptcy.
They had been trying to
renegotiate with lenders for better terms on about $2.4 billion of debt, but discussions fell through and the company is turning
to Chapter 11 reorganization, under which it will continue to operate. The CFO has said the bankruptcy could take 4-6 months to complete.
Last year it sold several locations, but still has 20
that will operate in N. America.
Maybe President Barack Obama should declare National Bankruptcy Day, and that way everyone
start over on equal terms...
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