dudorovanaapyh.blogspot.com
Six Flags is also seeking a $600 millionb loan, secured by its assets, and $150 milliomn in a new revolvingcredit line. The company’s executivwe retention plan would keep Snyder as boars memberand chairman. Mark Shapiro, currently chief executive, as well as chied financial officer Jeffrey Speed and several other top managemen would also stay on inexecutive roles. Six which announced its Chapter 11 bankruptcyt filing overthe weekend, listed $2.4 billiojn in debt and $3 billiojn in assets. It hopes to cut debt by $1.8 billionb and wipe out more than $300 milliob in preferred stock.
Snyder and his managementg team, who took control of the theme park operatoe three and a halfyeare ago, have not been able to return the companyh to profitability, despite increasing attendance and sellinyg several parks to raise capital last year. The compant reported a $146 million first quarter loss. Six Flags has said its reorganizationb will not affect park operations and its vendors and employeed will continue to be Six Flags 20 theme parks includdein Largo.
No comments:
Post a Comment