Six Flags waves the white flag
The economy has been quite the thrill ride for Six Flags. The New York City-based amusement-park operator went belly-up in June, unable to spin off $2.4 billion in debt -- even on the Tilt-A-Whirl.
But never fear: The chain's 20 parks, which stretch from Montreal to Mexico City, will remain open. The Chapter 11 filing is "strictly a financial restructuring" of the company's debt, said President and CEO Mark Shapiro in a statement.
The parks attracted 25 million visitors in 2008, and the company made $275 million. "Six Flags has been a favorite family destination for almost a half century. Our financial reorganization will best position our parks to entertain millions of guests for another 50 years," Shapiro added.
http://finance.yahoo.com/career-work/article/107335/brand-name-companies-go-bankrupt.htmlKinjo Note: Geeze, how sad. Atleast they are staying open. I remember going to six flags sooooooo long ago. Such great times, its when the new batman ride was created. Six Flags was always about Thrill rides, which i like.