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Chalanachithram.com DB » TF Industry related » Archive through June 16, 2009 » Theme-park chain Six Flags files for bankruptcy « Previous Next »

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Mallik
Side Hero
Username: Mallik

Post Number: 5946
Registered: 10-2008
Posted From: 67.58.131.119

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Posted on Sunday, June 14, 2009 - 11:09 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Abhysg:

ela undi annay.. im planning for coming weeks.. waiting for sunny weekend


I had to drive one and half hour.. rides antha khaas levu.. only one had max thrill.. at the max 2hrs.. antha kannaa ekkuva spend cheyyalemu.. pillalu unte they enjoy the max and very good place..

Overall, we were disappointed..
In this db, there's always someone watching you!!
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Abhysg
Comedian
Username: Abhysg

Post Number: 1758
Registered: 08-2008
Posted From: 96.227.160.220

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Posted on Sunday, June 14, 2009 - 09:36 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

wat a leg ya.. i went to hurricane harbor just came back.
>>
ela undi annay.. im planning for coming weeks.. waiting for sunny weekend
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Mallik
Side Hero
Username: Mallik

Post Number: 5937
Registered: 10-2008
Posted From: 67.58.131.119

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Votes: 0 (Vote!)

Posted on Saturday, June 13, 2009 - 09:42 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

wat a leg ya.. i went to hurricane harbor just came back.. :-(

Anyway, this had to come.. Orlando lo huge land ni leasing anta mari.. etavuddo.. SixFlags rawwwkks anyways..
In this db, there's always someone watching you!!
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Ishan
Junior Artist
Username: Ishan

Post Number: 37
Registered: 01-2009
Posted From: 68.94.96.241

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Posted on Saturday, June 13, 2009 - 09:37 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Thats too bad. I always liked Six flags.
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Ashton
Comedian
Username: Ashton

Post Number: 1178
Registered: 05-2008
Posted From: 208.53.157.30

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Posted on Saturday, June 13, 2009 - 09:28 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

http://www.cnn.com/2009/US/06/13/six.flags.bankruptcy/index. html

(CNN) -- In an effort to shed $1.8 billion in debt, popular theme-park chain Six Flags announced Saturday that it was filing for Chapter 11 bankruptcy.

The filing will not affect the operation of the company's 20 parks in the United States, Mexico and Canada, said spokeswoman Sandra Daniels.

"This restructuring will have no impact on families who come out to our parks. They will not see an inch of difference," Daniels said.

In an online letter to employees, President and CEO Mark Shapiro said Six Flags inherited a $2.4 billion debt load that "cannot be refinanced in these financial markets."

"This process is strictly a financial restructuring of our debt and that's how you should view it and speak about it," Shapiro said in the message posted on the Six Flags Web site.

He said Six Flags was seeking expedited approval from the for the District of Delaware of a pre-negotiated plan of reorganization under Chapter 11 of the United States Bankruptcy Code.

He said the company actually performed well in 2008, attracting 25 million visitors and making $275 million. But it could not keep up with its debt obligations. See interactive map of Six Flags locations »

"That's a balancing act you just can't risk year in and year out," he said. "Today, we are moving to rectify our balance sheet once and for all. Believe me when I say we will emerge from this process stronger and more competitive than ever." Read Shapiro's online letter to employees


The restructuring would reduce the company's debt to $600 million.

Shapiro told employees that the company was on "solid ground" and the bankruptcy decision was "difficult." He assured them their paychecks and jobs were safe.

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