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SUNDAY, NOVEMBER 8, 2009
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15

Six Flags Files for Bankruptcy

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(Newser) – Theme park operator Six Flags has declared bankruptcy, Bloomberg reports. The company has not had a profitable year since 1998 and is burdened with $2.4 billion in debt. Six Flags underwent a wide-ranging reorganization starting in 2005 when Washington Redskins owner Daniel Snyder became chairman. The company, whose 20 parks draw 25 million visitors a year, seeks to reduce its debt by $1.8 billion and eliminate $300 million in stock obligations.

The Batman roller coaster is seen at Six Flags over Georgia in Atlanta.
The Batman roller coaster is seen at Six Flags over Georgia in Atlanta.   (AP Photo)
Six Flags chairman and Washington Redskins owner Daniel Snyder.
Six Flags chairman and Washington Redskins owner Daniel Snyder.   (AP Photo)
A Six Flags park.
A Six Flags park.   (AP Photo)
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15 comments
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TerrifiedCitizen
Jun 13, 09 2:18 PM CDT
We only needed one flag to go broke... Reply
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+4
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JonmarkP
Jun 13, 09 5:34 PM CDT
For eight long years we flew the Republican Flag instead of the American Flag. And it bankrupted us, sure enough.
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kokuaguy
Jun 13, 09 4:40 PM CDT
Haven't had a profit since 1998? This should have happened long ago. Reply
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+2
SPH
Jun 13, 09 5:56 PM CDT
Six flag "amusement" parks are not amusing....Shoddy upkeep, non-existent service and over-sold, over-hyped mediocre attractions.... Reply
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nick
Jun 13, 09 7:32 PM CDT
Those park conditions point to bad management. I would think that either firings have occurred or executive pay packages and bonuses have been significantly reduced, or both, since 1998.
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+1
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