Six Flags Attempting to Avoid Bankruptcy
April 18, 2009 by Stephen Kersey
Filed under Business
Six Flags is attempting to find alternatives to filing bankruptcy. One of their recent plans is to offer stock to their debtors in the place of cash payment. This revelation was released in Six Flags’ latest restructuring plan.
It’s no secret that Six Flags is in trouble. Since late in 2008, Six Flags stock has been valued at least than one dollar. On Friday, their shares were under fifteen cents. Currently, their shares are suspended and cannot be traded until Monday. Most experts believe that their shares will dip even further once trading reopens.
Six Flags has more than 20 properties in North America. They are one of the world’s leading chains for theme parks, water parks and amusement parks. It’s estimated that more than 20 million people go to a Six Flags park each year. Founded in Texas, the company is now headquartered in New York.
Six Flags (Image: Flickr)
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Check out what others are saying about this post...[...] an aside, Six Flags is struggling financially right now. One recent move is an attempt to pay some of their debtors with company stock lieu of cash payback. I hope they make it out their financial difficulties by [...]