Posts Tagged ‘preferred shareholders’

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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