Magic Mountain Owner Six Flags Inc. Files Bankruptcy

0

Six Flags Inc., one of the world’s largest amusement-park chains, will be mostly owned by its lenders if a bankruptcy judge approves a deal negotiated between the company and its debt holders.

The theme-park company filed for Chapter 11 bankruptcy protection early Saturday amid a mountain of debt topping $2 billion and a looming $300 million payment due to preferred stockholders in August. Six Flags, which attracts 25 million visitors a year to its 120 roller coasters and other attractions, failed to persuade enough lenders to swap debt for equity over the past two months, forcing it into bankruptcy court.




Read the full

Wall Street Journal

story.

No posts to display