Six Flag Theme Parks Plummet Into Chapter 11 Bankruptcy
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The huge theme park chain Six Flags has now declared bankruptcy. This happens after a wide array of different management changes have been floating around in an attempt to bring the popular them park company from red to black.
The chapter eleven announcement made from Six Flags along with 36 other associates came after the US Bankruptcy court in Wilmington Delaware. The court listed assets of a whopping 3 billion dollars of debt.
Things seemed to go downhill after the Washington Redskins owner Daniel Snyder came in and hired a fresh new line of managers. So far downhill in fact that their shares have plummeted a mind bending 86% during the past year and they haven’t built a profit since 1998. Currently, it’s estimated that they’ve lost just over $550 million a year since Snyder became affiliated with the company.