Six Flags Going Under?

by James & Miel on March 13, 2009 · 0 comments

Hi All,

If you’ve ever ridden a roller coaster, this bit of news might interest you.

It looks like amusement park chain Six Flags is going under. The Wall Street Journal is reporting that they’ve hired some legal specialists and an investment bank to help negotiate with their creditors. However, they don’t have enough money to make their preferred stockholder payments and their bond obligations, so its looking like they’ll have to organize a prearranged bankruptcy filing (WSJ).

The Darwinian aspects of economics can be ugly. There is a six flags in the Baltimore/DC area, and I remember having a good time when I visited several years ago. Too bad the company couldn’t keep it together. Then again, if more people are living frugal and spending less on excess expenditures like amusement parks, maybe this is a good sign for America?



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