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  1. #1
    Atomic Punk
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    12.11.17 @ 04:37 PM
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    Default Six Flags files for bankruptcy

    In an effort to shed $1.8 billion in debt, popular theme-park chain Six Flags announced Saturday that it was filing for Chapter 11 bankruptcy.

    The filing will not affect the operation of the company's 20 parks in the United States, Mexico and Canada, said spokeswoman Sandra Daniels.

    "This restructuring will have no impact on families who come out to our parks. They will not see an inch of difference," Daniels said.

    In an online letter to employees, President and CEO Mark Shapiro said Six Flags inherited a $2.4 billion debt load that "cannot be refinanced in these financial markets."

    "This process is strictly a financial restructuring of our debt and that's how you should view it and speak about it," Shapiro said in the message posted on the Six Flags Web site.

    He said Six Flags was seeking expedited approval from the for the District of Delaware of a pre-negotiated plan of reorganization under Chapter 11 of the United States Bankruptcy Code.

    He said the company actually performed well in 2008, attracting 25 million visitors and making $275 million. But it could not keep up with its debt obligations.

    "That's a balancing act you just can't risk year in and year out," he said. "Today, we are moving to rectify our balance sheet once and for all. Believe me when I say we will emerge from this process stronger and more competitive than ever." Read Shapiro's online letter to employees

    Six Flags operates 20 theme parks in the United States, Mexico and Canada.
    The restructuring would reduce the company's debt to $600 million.

    Shapiro told employees that the company was on "solid ground" and the bankruptcy decision was "difficult." He assured them their paychecks and jobs were safe.
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  2. #2
    Good Enough avhevhmashdlr's Avatar
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    i haven't spoken to my bro about it yet. He works their, an 18 year old Supervisor in the Games Department.....guess he's not gonna get his free one day passes and his free season pass that he is entitled to, so the comapany can save some money there....

    The one in Jackson, and I'm sure everywhere else, is expensive. for how expensive everything is, just up the prices more. they've done it for how long now?
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  3. #3
    carpe damn diem billy007's Avatar
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    12.16.17 @ 07:14 PM
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    Default

    Guess they might have to cut back to only Four Flags...

  4. #4
    Good Enough wombattt's Avatar
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    Six flags over anything but Texas is stupid...and bad history.
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  5. #5
    Atomic Punk Raldo's Avatar
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    12.17.17 @ 03:32 AM
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    For the prices they charge, I'm surprised this happened. I guess in this economy folks are not lining up to go on the Scrambler or Tea Cups.
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  6. #6
    Atomic Punk edwardv's Avatar
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    12.16.17 @ 11:32 PM
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    I guess amuesment parks dont qualify for federal bailouts? Uncle Sam gets sick on roller coasters?
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  7. #7
    Atomic Punk ZeoBandit's Avatar
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    12.14.17 @ 05:57 AM
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    Six flags!!! More flags, more debt!
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  8. #8
    Future's in the past....
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    11.03.17 @ 01:35 PM
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    Wasn't Six Flags already in a bit of financial trouble to begin with?

    Either way, it seems like a lot of parks (including Disney) are shooting themselves in the foot by increasing admission while the economy is tanking.
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  9. #9
    Eruption lacy_vious's Avatar
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    Quote Originally Posted by VanHalenRules View Post
    Wasn't Six Flags already in a bit of financial trouble to begin with?

    Either way, it seems like a lot of parks (including Disney) are shooting themselves in the foot by increasing admission while the economy is tanking.
    They were doing badly enough to shut down Astroworld here over "parking lot issues." Granted, I stopped going because of the park being in the middle of the ghetto and I cherish breathing.

  10. #10
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    Quote Originally Posted by lacy_vious View Post
    They were doing badly enough to shut down Astroworld here over "parking lot issues." Granted, I stopped going because of the park being in the middle of the ghetto and I cherish breathing.
    Sounds like the whole chain, in general, has gone downhill then. Brett and others on the left coast have said something about "Magic Mountain" out there really becoming a hole over the years. It's a shame, as the place was truly one of the highlights of my trip out to see my half brother eons ago.

    I guess the high points of Six Flags are over, should have seen it coming when they let go of Six Flags Atlantis down in Hollywood nearly 20 years ago.
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  11. #11
    Atomic Punk
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    07.24.11 @ 04:36 PM
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    Quote Originally Posted by billy007 View Post
    Guess they might have to cut back to only Four Flags...


    When Astroworld closed down and they auctioned off everything I was pretty dissapointed...not surprised, but a little dissapointed...but hey...people don't really go to theme parks, especially when it costs 70 bucks to get in for one day. Their prices really went out of control and their concessions were insane so they lost. That's life.
    Stay out of it, dude.


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  12. #12
    Hang 'Em High RRMB's Avatar
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    05.21.17 @ 06:42 PM
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    Quote Originally Posted by edwardv View Post
    I guess amuesment parks dont qualify for federal bailouts? Uncle Sam gets sick on roller coasters?
    *in your best Don LaFontaine personation*


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  13. #13
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    Quote Originally Posted by broken9500 View Post
    When Astroworld closed down and they auctioned off everything I was pretty dissapointed...not surprised, but a little dissapointed...but hey...people don't really go to theme parks, especially when it costs 70 bucks to get in for one day. Their prices really went out of control and their concessions were insane so they lost. That's life.
    That's the thing I don't get....at all! People are having problems getting to a park, let alone paying the admission. Yet, what do they do? Yep, raise the admission yet again. I just don't see the logic in, "Well, fewer folks are coming in, so we need to raise prices to make up for it." Yeah, they're making more money on the folks who do go through the turnstyles, yet there are yet fewer people actually able to afford a ticket.

    I have noticed many parks (Universal Orlando, and the Anheiser/Busch parks) that are offering "Buy one, get insert number of days here Free" tickets, which I applaud. Just wish more parks would get onboard with that kind of thinking, at least they know that more folks inside means higher concession numbers.
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  14. #14
    Atomic Punk
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    07.24.11 @ 04:36 PM
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    Quote Originally Posted by VanHalenRules View Post
    That's the thing I don't get....at all! People are having problems getting to a park, let alone paying the admission. Yet, what do they do? Yep, raise the admission yet again. I just don't see the logic in, "Well, fewer folks are coming in, so we need to raise prices to make up for it." Yeah, they're making more money on the folks who do go through the turnstyles, yet there are yet fewer people actually able to afford a ticket.

    I have noticed many parks (Universal Orlando, and the Anheiser/Busch parks) that are offering "Buy one, get insert number of days here Free" tickets, which I applaud. Just wish more parks would get onboard with that kind of thinking, at least they know that more folks inside means higher concession numbers.
    Astroworld used to chage 28 bucks to get in the park with a one-day pass. Season tickets were 50 bucks and if I recall, you could get a family four pack for 150 bucks. That was a great deal all the way around. My mom and dad would drop me off with my season pass, a quarter for the phone call to have them pick us up, and 20 bucks for concessions...sometimes just 10. Then when we all got cars and drivers licenses, we started cruising up there every weekend with 5 bucks in our pockets. We'd hit the park, break for lunch at a nearby CiCi's pizza and then go back to the park. Back then they'd stamp your hand and you could come back.

    Last I heard single day passes were 70 bucks. That's WAAAAAAY too much for astroworld...hell, that's pushing it for Disney!

    Between passes getting so expensive and charging 10 bucks for a McDonald's Value Meal it's no wonder these places are going under.

    yes you read that right...10 bucks for a McDonald's Value Meal. Last time I went to Astroworld, gotta be at least 10 years, they had brought in mcdonald's into the park. But the 4 dollar value meals cost 10 bucks inside the park. Screw that.
    Stay out of it, dude.


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  15. #15
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    Quote Originally Posted by broken9500 View Post
    Astroworld used to chage 28 bucks to get in the park with a one-day pass. Season tickets were 50 bucks and if I recall, you could get a family four pack for 150 bucks. That was a great deal all the way around. My mom and dad would drop me off with my season pass, a quarter for the phone call to have them pick us up, and 20 bucks for concessions...sometimes just 10. Then when we all got cars and drivers licenses, we started cruising up there every weekend with 5 bucks in our pockets. We'd hit the park, break for lunch at a nearby CiCi's pizza and then go back to the park. Back then they'd stamp your hand and you could come back.

    Last I heard single day passes were 70 bucks. That's WAAAAAAY too much for astroworld...hell, that's pushing it for Disney!

    Between passes getting so expensive and charging 10 bucks for a McDonald's Value Meal it's no wonder these places are going under.

    yes you read that right...10 bucks for a McDonald's Value Meal. Last time I went to Astroworld, gotta be at least 10 years, they had brought in mcdonald's into the park. But the 4 dollar value meals cost 10 bucks inside the park. Screw that.
    Yep, I hear ya man. Walt himself once said something along the lines of "having a place where children could go with their parents"...wonder if Walt's spinning in his grave by now knowing parents can't afford to bring their children to "his" parks? But even as greedy as Disney is, the McDonalds Value Meals at Animal Kingdom aren't gouging people that badly.

    Heck, even at the sit down place, Boatwrights, at the Port Orleans Resort was just over $100 for 5 of us, and we had drinks, steak, prime rib, etc. I can't even get out of Outback for that kind of money these days.
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