Six Flags declares Bankruptcy

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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.

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.

My opinion on this topic

I think they went bankcrupt because they did not get enough visitors and they did not advertise as much as they used to. They might go out of bussiness. So go there and support Six Flags in there time of need and ignore the next text

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