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Six Flags company files for bankruptcy

June 13, 2009 3:35:42 PM PDT
The Six Flags amusement park company has filed for Chapter 11 bankruptcy protection.The company operates 20 theme parks, including Great America in north suburban Gurnee.

Six Flags CEO Mark Shapiro says the move will not impact operations at any of the theme parks. He also says the bankruptcy filing is needed to reorganize and shed $1.8 billion in debt.

Six Flags claims it actually had a great year in 2008, with 25 million visitors and record revenues.

Saturday's bankruptcy filing came after an earlier plan to negotiate an out-of-court deal with creditors failed.


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