US theme park firm Six Flags files for bankruptcy

Jun 13th, 2009 - Reuters

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CHICAGO, June 13 (Reuters) - Six Flags Inc (SIXF.OB), theworld's largest regional theme park company, said on Saturdayit filed for bankruptcy protection.

The New York-based company operates amusement parks acrossthe United States, Canada and Mexico.

Six Flags said it filed for Chapter 11 protection with theunanimous support of its lenders' steering committee.

The plan will result in a deleveraging of the company'sbalance sheet by about $1.8 billion, as well as the eliminationof more than $300 million in preferred stock obligations.

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