Six Flags Is Not Bankrupt

[KYMickey]

Despite what another poster claims SIX FLAGS IS NOT BANKRUPT! They are having financial difficulties and are trying to restructure their debt. This may lead to eventual bankruptcy but have the present time they're NOT bankrupt!

Spreading rumors of financial demise especially in this time of financial crisis is extremely inappropriate to say the least. It's like yelling fire in a crowded theater it causes panic. In this case it could reduce ticket sales and planned trips and contribute to the company's demise.

 

[Michael623]

Do you work for Six Flags? This is the second thread where you jump to defend them. You have to see the writing on the wall that bankruptcy is an inevitability?

 

[KYMickey]

Do you work for Six Flags? This is the second thread where you jump to defend them. You have to see the writing on the wall that bankruptcy is an inevitability?

No I don't work for Six Flags and I haven't even been to one of their Parks in several years. I do believe in American industry and businesses and don't like to see people making untrue statements that hurt them. People who make obviously untrue statements are just hurting the companies they talk about. We need to do everything we can to help American companies not hurt them.

Bankruptcy is not inevitable if people get behind the company and don't ignore them can let them fail.

 

[rebecca06261]

Actually, as a Six Flags stockholder and as a person close to the current president of SFOG, Bankruptcy is inevitable, the big question will be "when will they file?" The bankruptcy is necessary to restructure their current debt load. It has until August 15 to pay back a $287.5 million. Long story short, it doesn't have the money to do so, nor does it appear that they will be in the position to do so by the deadline. Therefore, Six Flags HAS hired Bankruptcy attorneys and has also hired Merill Lynch to go over their assets in hopes of finding the best coarse of action.

Bankruptcy is not the end-all. It's simply a way to keep operations moving while reorganizing and unloading SOME assets to offset the debt.

 

[Dznefreek]

don't like to see people making untrue statements that hurt them. .

This is a rumors board . . . . .

 

[Dznefreek]

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News results for Six Flags Bankrupt

Six Flags Hopes To Avoid Bankruptcy - Mar 14, 2009
Six Flags has 12 theme parks in the United States, including one in Agawam, Mass., as well as one in Mexico and one in Canada.
Hartford Courant - 396 related articles »
Six Flags debt talks hindered by large holdout-CEO - Reuters - 195 related articles »
Cedar Fair retains Merrill to consider asset sale - BusinessWeek - 23 related articles »
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Six Flags Nearing Bankruptcy
Mar 14, 2009 ... Six Flags Nearing Bankruptcy - The Huffington Post.
www.huffingtonpost.com/2009/03/14/six-flags-nearing-bankrup_n_174954.html - 142k - Cached - Similar pages
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Six Flags: Next Stop Is Bankruptcy -- Seeking Alpha
Six Flags (SIX) is creeping ever lower. The company reported disappointing guidance and will take a charge of about $30 million. ...
seekingalpha.com/article/53717-six-flags-next-stop-is-bankruptcy - 55k - Cached - Similar pages
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Six Flags' New Owners Face a Capital Challenge
So persisting to answer those needy customers (new coasters every year) will make them go bankrupt. What Six Flags need is to keep its core business: ...
www.themeparkinsider.com/columns/robert/271.cfm - 42k - Cached - Similar pages
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Six Flags bankruptcy scare - The Daily Breeze
Six Flags bankruptcy scare. By Kristen A. Lee, The Associated Press. Posted: 03/14/2009 12:00:00 AM PDT. NEW YORK -- Shares of Six Flags Inc. touched a new ...
www.dailybreeze.com/ci_11911096 - 59k - Cached - Similar pages
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Six Flags in Talks to Avoid Filing for Bankruptcy - NYTimes.com
Mar 14, 2009 ... Executives are wondering if a bankruptcy filing would hurt attendance at theme parks.
www.nytimes.com/2009/03/14/business/14flags.html?partner=rss&emc=rss - Similar pages
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USNews.com: Nation and World: AP Article
Mar 13, 9:11 AM EDT. Ahead of the Bell: Six Flags bankruptcy fears grow ... Six Flags shares lost 2 cents, or 10.5 percent, to 17 cents in early trading. ...
hosted.ap.org/dynamic/stories/A/APFN_SIX_FLAGS_AHEAD_OF_THE_BELL?SITE=DCUSN&SECTION=HOME... - 31k - Cached - Similar pages
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Six Flags at risk for bankruptcy -- chicagotribune.com
Six Flags Inc., which owns Magic Mountain in Valencia and 19 other theme parks, said Wednesday that it might need to file for Bankruptcy Court protection if ...
www.chicagotribune.com/business/la-fi-sixflags12-2009mar12,0,6588091.story - 127k - Cached - Similar pages
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The Ride is OVER- --SIX FLAGS GOING BANKRUPT! // General ...
Bankruptcy for Six Flags is old news - no? [reply]. LGramlich. 10/22/08. LGramlich. I never knew this, but I did know that our local Six Flags was decimated ...
www.blogcatalog.com/discuss/entry/the-ride-is-over-six-flags-going-bankrupt - 18k - Cached - Similar pages
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Six Flags in danger of bankruptcy - Breaking News From New Jersey ...
Breaking news from around New Jersey from The Star-Ledger newsroom. Continuous coverage of NJ news, including crime, politics and government on NJ.com.
www.nj.com/news/index.ssf/2009/03/six_flags_in_danger_of_going_u_1.html - 288k - Cached - Similar pages
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Six Flags bankruptcy scare - Press-Telegram
Mar 16, 2009 ... Six Flags bankruptcy scare. Rating is cut as shares hit new low. By Kristen A. Lee, The Associated Press. Posted: 03/14/2009 12:00:00 AM PDT ...
www.presstelegram.com/business/ci_11909068 - 58k - 6 hours ago - Cached - Similar pages

 

[racefanof88]

Despite what another poster claims SIX FLAGS IS NOT BANKRUPT! They are having financial difficulties and are trying to restructure their debt. This may lead to eventual bankruptcy but have the present time they're NOT bankrupt!

Spreading rumors of financial demise especially in this time of financial crisis is extremely inappropriate to say the least. It's like yelling fire in a crowded theater it causes panic. In this case it could reduce ticket sales and planned trips and contribute to the company's demise.

This is a RUMORS THREAD. And the reading of a post about Six Flags going bankrupt does not cause me to "panic". I have been to ONE Six Flags park and have no plans on returning. So this rumor has no effect on my purchase of a ticket.

 

[KYMickey]

This is a RUMORS THREAD. And the reading of a post about Six Flags going bankrupt does not cause me to "panic". I have been to ONE Six Flags park and have no plans on returning. So this rumor has no effect on my purchase of a ticket.

I'd congratulate you and make some other comments about your posting but I'll try to be PC and not comment further.

 

[racefanof88]

I'd congratulate you and make some other comments about your posting but I'll try to be PC and not comment further.

You can be as "PC" as you want to be, but that doesn't change the facts. In my experience. Six Flag's tickets were way over priced, had very little to offer for a young child, had counter service food prices to rival several TS restaurants at Disney, and rides that went down several times the day we were there. We paid $15 to park and were treated like criminals because we brought juice boxes for our small child. That was about 6 years ago and we have never had a desire to return despite all the discount mailings and emails I got from them.

It was a huge waste of money for our trip. It was well over $350 for our family, for just about 4 hours. None of what I have stated is a rumor. They had a total of 5 rides for my 4 yo and no one could ride with him. I was able to ride the carousel with him and we were the ONLY two on the ride.

I can't believe it has taken this long for Six Flags to have problems. With CEO greed, law suits, and lack of customer service they have been blessed to stay open this long.

Now all of that being said, I am not happy to see everyday people lose their jobs, as bankruptcy restructuring would cause. The CEO's of these corporations need to have accountability and that just isn't going to happen, now or ever.

 

[rebecca06261]

Six Flags Fights To Avoid Bankruptcy

Posted: 6:13 am EDT March 17, 2009
NEW YORK -- The president and chief executive of Six Flags says one key debtholder is holding up negotiations for an out-of-court refinancing deal.

CEO Mark Shapiro did not name the debtholder but said it was a portfolio fund manager. He was speaking to investors on a quarterly conference call Monday.

The situation is increasing the theme park operator's difficulty in avoiding a Chapter 11 bankruptcy filing.

Shapiro is stressing that the company's restructuring whether in or out of court will not affect the experience visitors have at its theme parks.

Six Flags over Georgia is located in Austell in suburban Atlanta.

Copyright 2009 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

[dennis99ss]

Six flags went on a drunken buying spree using debt, which caused cash flow and debt payment difficulties, which resulted in them taking measures to increase attendance, such as 2 for ones, etc. which changed the clientel, running the long history clientel away, resulting in them facing clientel, cash flow and debt problems. Six flags filing bankruptcy has been talked about for a couple of years now.

 

[rebecca06261]

Six flags went on a drunken buying spree using debt, which caused cash flow and debt payment difficulties, which resulted in them taking measures to increase attendance, such as 2 for ones, etc. which changed the clientel, running the long history clientel away, resulting in them facing clientel, cash flow and debt problems. Six flags filing bankruptcy has been talked about for a couple of years now.

This is the best layman analogy

 

[prfctlyximprfct]

I recently heard Six Flags Great Adventure in NJ has been nicknamed "Gangland". Although I did enjoy going there in high school, it seems to have lost its appeal for me. It definitely is not geared to little kids and families. I feel as though, the one by me at least, is just a teenage hangout. They need to amp up their marketing, or add other sorts of rides. Also, Six Flags is wayyyy to expensive for a day trip, and lines are always sooo long. Its just not worth the price to ride on a max of 3 rides.

 

[rcortese711]

Well, I live 30 minutes from Six Flags Great America, have been going there since I was born, my parents have been going there since it opened, we're season pass holders, and credit card holders. Whew... that being said, I can honestly say that the... clientel has drastically changed over the years. It used to be family oriented and now you're hesitant to park next to certain cars.

Don't get me wrong. I love Six Flags... despite the over priced parking, gross food, and sometimes unsafe rides. And over the years, everyone knew it was loosing money. They tried hard to keep it up though. They added a lot of new rides and even a water park (which isn't so bad).

And keep in mind, a lot of companies declare bankruptcy but don't go under right away. Who knows, maybe they'll get back on their feet! They should send all their CEO's to Disney world for a week to see how to properly run a park though!

 

[yitbos96bb]

I'd congratulate you and make some other comments about your posting but I'll try to be PC and not comment further.

You may want to also look up and understand the correct usage of the term PC. Avoiding commenting isn't being PC, its simply refraining from being rude.

 

[King Triton]

Six Flags has gone down hill so much over recent years. I live right by Six Flags Over Texas. Now they're going to sell beer at the park. Ever seen a drunk on a rollercoaster? Not pretty.

For their big 50th anniversary in a couple of years their big gift to us is to refurbish the Texas Giant wooden rollercoaster. What??? It's so shaky now it's about to fall over at any moment. Hey Six Flags, that's not a big gift to us....it's called a Safey Issue and keeping your guests alive.

Six Flags used to be so cool and fun during the 80's but they took out all the great rides. It's just not the same.

Those of you who have been there years ago remember the cave ride and the Mexican train through the volcano ride? Well, all those cool rides are gone.

Thank God for Disney World!!!