Creditors extend deadline for Euro Disney to pay up

Posted | Contributed by Jeff

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.

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Well we know that six flags won't come to rescue, so I hope they work something out because it would be a tragedy if the park closes.

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 ***

If you haven't been to DLP, go soon. The park is positively beautiful. Disneyland is intimate. the Magic Kingdom is impressive. Disneyland Paris is gorgeous.

*** This post was edited by Brian Noble 3/24/2004 1:50:46 PM ***

Going there in about three weeks...
Hmmmz.... I'm not that impressed by DLP. It's too artificial. Too much plastic. I guess we Europeans are more used to real trees (take a look at 'the Efteling')
I don't like the Efteling that much. With all it's gardens, ponds and fake medieval/fairytale houses, it's much more artificial than Disneyland. Especially the bad combination of a Sindbad ride, a clown darkride and a cannibal teacup ride. And some of the bigger rides don't have a theme at all, for example Python, Pegasus, the lack of indoor theme at Vogelrok, the Bob is - except for it's station - quite dull.
They're not bad, but certainly not better than Disneyland Paris. They concentrate on a fairytale forest, with some rides around it. Disney has a full theme park, with rides everywhere.

And I didn't notice much plastic at the Paris park, stone, rock, plaster, concrete, steel, copper, water, wood, plants, etc. Not much plastic.

I was under the impression that Disney bailed Euro-Disney out a few years back, when they changed the name to Disneyland Paris. The park seemed to be pretty well-recieved by the locals when I was there (although I've heard mixed reviews about the MGM studios park). Regardless, I agree it would be a shame for this park to close - it has the best atmosphere and theming of any park I've ever been to, and even puts the American parks to shame.


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