American amusement park company, Six Flags, is filing for Chapter 11 bankruptcy. Spokespersons for the company said they were trying to get out from under nearly $21/2 billion debt. However, 2008 was a record year for Six Flags amusement parks, which had over 25 million visitors and posted record revenues.
The filing came after talks with creditors broke down. Six Flags stock has traded at under $1.00 since September, 2008; it closed at $0.26/share Friday. The company said the bankruptcy filing will not affect business at their 20 parks, nationwide.
© C Harris Lynn, 2009
A rambling melange of pop-culture.
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