Six Flags Files Chapter 11 Bankruptcy Protection

Written by ysdata on June 13, 2009 – 11:31 pm

Six Flags Files for Chapter 11

Another big company in financial trouble. Surprisingly during the peak of Six Flags season it has announced that it has filed for chapter 11 bankruptcy. Apparently Six Flags has $2.4 billion dollars worth of debt hanging over the sun fun place. By seeking bankruptcy protection from the Delaware court system, Six Flags hopes to emerge from its financial troubles within the coming months.

Six Flags claims that seeking bankruptcy protection is a measure taken to restructuring the theme park giant. Six Flags reports a profitable year in 2008. Six flags will remain open during this restructuring. The filing of chapter 11 is just a “back house” clean up, reported by top level executives at Six Flags. Six Flags has announced a commitment to remain in good standing with it suppliers, partners, employees and guess during this restructuring.

Six Flags is owned by Dan Snyder. It has 21 locations. Six Flags is an amusement park with feature theme park water entertainment. According to reports, Six Flags is the 4th most popular amusement park in the world.

Quite as kept, Six Flags has been in financial alert mode since 2008 when its stocks fell below the minimum required by the NYSE.

Go to — Six Flags official website

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