Posts Tagged ‘bankruptcy filing’

Extended Stay America Files Ch. 11; Investors Sue B of A & Wells Fargo

Monday, June 15, 2009 14:44 No Comments

Extended Stay America has become the latest casualty of the economic crisis. The operator of low to mid priced hotels filed for Chapter 11 bankruptcy protection as consumers cut back on travel leisure spending.
According to the bankruptcy filing, Extended Stay America has $7 billion in assets with $7.6 billion in debt. The company owns 680 [...]

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Six Flags Goes Under; Seeks Chapter 11 Protection

Saturday, June 13, 2009 9:58 1 Comment

Six Flags, the world’s largest regional amusement-park company, is seeking chapter 11 bankruptcy protection. The company says it has to restructure and/or default on $1.8 billion of debt. Today’s  bankruptcy filing came after a failed attempt to renegotiate with creditors.
The company did not have ample liquidity to make a  $288 million payment due preferred shareholders [...]

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