Six Flags Seeks Chapter 11 Bankruptcy Protection
The amusement park company says it needs to reorganize and shed $1.8 billion of debt. Six Flags operates 20 theme parks, and lures about 25 million visitors a year. It has been struglling under a mountain of debt.
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RENEE MONTAGNE, host:
NPR's business news starts with Six Flags in bankruptcy.
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MONTAGNE: One of the world's biggest amusement park companies filed for Chapter 11 bankruptcy protection this weekend. Six Flags operates 20 theme parks and lures about 25 million visitors a year, and still it's been struggling under a mountain of debt. Its current managers say they've been improving the parks, and that's paying off. They say they inherited all that debt when they took over the company four years ago. Six Flags is now controlled by Daniel Snyder. He's the owner of the Washington Redskins football team. In a letter to employees, Six Flags said the parks will remain open and workers will be paid as the company reorganizes its finances.
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