Euro Disney SCA, Europe's largest theme-park operator, said Tuesday that creditors have granted it two more months to renegotiate the terms of its loans, buying the unprofitable company time to avoid default. Euro Disney, which is 39 percent owned by Walt Disney Co., has until May 31 to work out a plan with lenders to repay a $207 million debt due in June. Without a plan by then, it would be "unable to meet all of its debt obligations," the Marne-la-Vallee, France-based company said in a written statement.
Read more from Bloomberg via The Orlando Sentinel.
I haven't read the article, but I was under the impression that the company is making a profit, just not enough to pay off the debt.
*** This post was edited by Grant 3/24/2004 9:26:54 AM ***
*** This post was edited by Brian Noble 3/24/2004 1:50:46 PM ***
And I didn't notice much plastic at the Paris park, stone, rock, plaster, concrete, steel, copper, water, wood, plants, etc. Not much plastic.
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