This morning Six Flags filed for Chapter 11 Bankruptcy in Delaware. You can read some detailed information about it here, a nice writeup explaining things can be found here.

The long and short of it is - you have nothing to worry about!

All parks are open and will remain open, and will remain under Six Flags' control. And the company will still exist once these bankruptcy proceedings are over.

This is actually a good thing, and this probably would have happened whether or not the country was in a recession. The current management brought in by Dan Snyder in 2005 when he gained majority control of the company has turned things around. Six Flags now know how to make money, and in fact has been doing better the past few years with its finances. The problem has been that the new management inherited a HUGE debt load (over $2 Billion) from the previous management that was forced out. And that debt came from a series of bad decisions over the past decade, and is just something the company could not shake off.

Here's hoping the company comes out of bankruptcy as soon as they expect, and things turn around for them. We could actually have a profitable company in the future if they can fix things now, and that just means better things for all of us.

Oh, and the one article mentions that due to the real estate market not doing too hot right now the company was unable to sell unused land around Great Adventure. GOOD! I bet they could come up with something great to use it with if they have the time and the money.

He did reference your article.

I'm sure it will. I can only see a brighter future for the company from this.

Here is a CNN article about it as well:

http://www.cnn.com/2009/US/06/13/six.flags.bankruptcy/index.html?eref=rss_topstories

"He pegged the new Terminator Salvation coaster at Six Flags Magic Mountain at $10 million and said that the Bizarro coaster makeover at Six Flags New England cost $7 million."

what a waste of $7 million Dollars for Superman they could have built a complete new coaster with that Money
I wonder what Bizarro at Great Adventure cost  if anywhere near the 7 million mark that would / could have been a lot of Flats
Yes It will bring more attention to Medusa but I don't think as much as a REAL NEW coaster or ride would had.

they keep talking about these 25 million rides and about family rides but spend 7 million to change one of the #1 rated coasters in the world ?

Build a $10 Million coaster then   here  more wood 
we are good with the 25 millions coaster for awhile

How about a Family Wood coaster that would have been money better spent then redoing Medusa 

Now I just hope to stock goes up  some before its gone completely  Like GM did
 
FYI: as of 2pm Tuesday 6-16-2009

Bid  0.17
Ask  0.18

High  0.19
Low  0.17
Volume  3,085,216 (Above Avg)

I hope they don't have to close it. My friends told me they might close the park.

thats good news, I was thinking for sure that next year the title would be Time Warner, Great Adventure!

this has happened before. It happened a few years before the "war on lines" campaign in '99. (when medusa was built). I think that the same thing will happen again with a huge ad campaign.

For those who haven't noticed:
-Great adv. is the ONLY profiting park under six flags name this year.
-they've been beyond, well beyond, maximum capacity for the past 3 weeks consecutively.
-Bizzaro(Medusa) is back on it's feet again and louder than ever.
-Bizarro is still the most remote ride in the park.
-Flash passes have gone up $20 this year
-They should be getting a new ride soon (2010 or '11)
-Rolling Thunder will be torn down in two years or less
-Bizarro might be getting a buddy soon too.

why do you say RT will be torn down? theres no evidence!

Chapter 11 happened before?  I don't think so.


I'd say false.  Link to where you saw that?


False.  If they ever got that full, they would stop admitting guests into the park.  That is a HUGE safety hazard, not to mention the lack proper guest service that the park would be able to provide due to overcrowding.


True, but was that ever under dispute?  I also don't see what that has to do with anything.


I'm pretty sure FlashPass was NEVER as low as $17 this season, or last season.


The chain already announced that they are making plans for major additions for every park in the chain for 2011 since that is the chain's 50th Anniversary.  Seeing as that will be a big year, one would probably expect a quiet year to not only gear up for that, but to regain footing post-recession.


After they have been working on it year after year, it's smoother than I can ever remember (at least on the left side), and they have El Toro interacting with it?  I doubt that.  Where do you get that from?


I guess anything's possible in 2011, but what exactly are you thinking?

The park has not been near closing the park down because of capacity in several years.

yes all coasters are safe for the time

I see a new wood twister coming out of this!