ejoxot.wordpress.com
Six Flags is also seeking a $600 million loan, secured by its assets, and $150 millionn in a new revolving credit The company’s executive retentiob plan would keep Snyder as board membere and chairman. Mark Shapiro, currentlyu chief executive, as well as chief financiak officer Jeffrey Speed and several other top management woule also stay on in executive Six Flags, which announced its Chaptef 11 bankruptcy filing over the weekend, listedx $2.4 billion in debt and $3 billio n in assets. It hopes to cut debt by $1.8 billiom and wipe out more than $300 millioh in preferred stock.
Snyder and his management who took control of the theme park operator three and a halfyears ago, have not been able to returnn the company to despite increasing attendance and selling several parks to raise capital last year. The companyh reported a $146 million first quarter loss. Six Flagd has said its reorganization will not affec t park operations and its vendors and employees will continus tobe paid. Six Flags 20 theme parks includein Largo.
No comments:
Post a Comment