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They're Not Amused: Six Flags Files for Chapter 11 Bankruptcy
Looks like the roller coaster riders at the many theme parks operated by Six Flags, including our Magic Mountain, aren't the only ones experiencing some topsy-turvy twists and turns; "Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt," reports the Huffington Post. Despite what reps hail as a "great" 2008, with "25 million visitors" and "record revenues," the $2.4 billion in debt is signaling a load too great to carry. But the company's CEO "says the move won't affect the operation of its 20 theme parks in the U.S., Mexico and Canada." So for now, it's all systems go for thrill junkies boarding Colossus, the Riddler's Revenge, Viper, or the Terminator Salvation ride.
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
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