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Six Flags files for bankruptucy

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Six Flags files for bankruptucy

Postby macman » Sat Jun 13, 2009 9:14 am

In a move that has seemed inevitable for quite a while now, Six Flags filed for bankruptcy in Delaware on on the morning of June 13, 2009.
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Postby MGA1 » Sun Jun 14, 2009 9:22 am

Six Flags is bankrupt but not going out of business. Six Flags Corporation filed for Chapter 11 bankruptcy protection. This type of bankruptcy protection means that the theme parks are making money (positive cash flow), however, they are not making enough money to pay off all of their debts on time. Their debts will be restructured so their current debt payments don't exceed their cash inflow. All the Six Flags theme parks will remain open and operating as least for the rest of the 2009 season.
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Cedars in trouble

Postby jimmy gimbels » Sun Jun 14, 2009 5:38 pm

The current economic climate is hard on everyone. Cedars, Inc. is also having revenue/expense issues.
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