SIX FLAGS MARINE WORLD IS CLOSED! Says my good friend Anjali. Is it? Says the poor girl who had her mind set ion going. What am I saying Of course its open. Why wouldnt it? I mean Its a heuge marine park with hundreds and hundreds of people visit every day!!!!!!!!!v so ow could it have gone Bankrupt? As you can see I am quite comfused.
LAIQA! clear my doubts!
here laur. this is from last year. The article is from MSN.
ReplyDeleteThe ride for Six Flags' (SIXF, news, msgs) shareholders is over. The theme-park operator filed for bankruptcy on Saturday, June 13, after failing to keep up with payments on $2.37 billion in debt.
The Chapter 11 announcement came as little shock to Wall Street, which had long factored the likelihood of bankruptcy into the price of insuring Six Flags' debts. The company, which lost nearly $113 million last year, had visibly struggled to raise money in advance of an Aug. 15 deadline to pay preferred income shareholders $287.5 million, plus another $31.3 million in accrued and unpaid dividends. Failure to meet the deadline would have triggered clauses in other creditor contracts demanding early payments.
"The current management team inherited a $2.4 billion debt load that cannot be sustained, particularly in these challenging financial markets," said Six Flags President and CEO Mark Shapiro, in a statement.
he he he he....
ReplyDelete