Six Flags could emerge from bankruptcy in March

Posted Friday, January 8, 2010 11:35 AM | Contributed by Jeff

Six Flags could emerge from bankruptcy as soon as March under an $830 million financing deal it is arranging with lenders, the company said in a regulatory filing on Thursday.

Read more from Reuters.

Friday, January 8, 2010 1:57 PM

Here's a crazy thought (and I never thought I'd be saying this): What if Six Flags buys CF????? Seeing as SF is so good at dealing with debt & all.

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Friday, January 8, 2010 2:03 PM

Couldn't CF just file its own bankruptcy and deal with its debt the same way that SF did?

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Friday, January 8, 2010 2:36 PM

There's an important distinction. The management team that drove SFI into the ground is not the same team that was forced by previously incurred debt to declare bankruptcy. Therefore, from all appearances, current management will emerge, still in charge.

With Cedar Fair, Kinzel & Co. are the very same ones that brought CF to its current position. I find it highly unlikely that they would come out on the other side, still running the show. Which is an outcome that doesn't appeal to Dick, so the board would never vote for it.

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Friday, January 8, 2010 2:55 PM

^^^ That would be cool. I would only need to buy one SP per year.

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Friday, January 8, 2010 6:24 PM

My question is, is do you think that once Six Flags bounces back, will they become a publicly traded company again?

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Friday, January 8, 2010 7:13 PM

Hopman said:
Here's a crazy thought (and I never thought I'd be saying this): What if Six Flags buys CF????? Seeing as SF is so good at dealing with debt & all.

How do bankrupt companies buy other over-leveraged companies? Pass what you're smoking this way, please.

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Friday, January 8, 2010 10:37 PM

SF buying CF sounds like some kind of nightmare where you are terrified while you are asleep, but once you wake up you start laughing out loud.

I don't care what happens to SF.

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Saturday, January 9, 2010 12:12 AM

If SF bought CF maybe they could get KBF to copy SFMM and start giving 25% SP discounts on food and merchandise, start using value books and Q-bots and relax their loose article policies. That would be a big step up.

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Saturday, January 9, 2010 4:04 AM

Please. Snyder/Shapiro would have no interest in the mess that is currently CF. Especially right in the middle of fixing the mess that is SF.

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Saturday, January 9, 2010 2:25 PM

Jeff said:

Hopman said:
Here's a crazy thought (and I never thought I'd be saying this): What if Six Flags buys CF????? Seeing as SF is so good at dealing with debt & all.

How do bankrupt companies buy other over-leveraged companies? Pass what you're smoking this way, please.

It does seem ridiculous, yet somehow K-Mart bought Sears. Go figure.

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Sunday, January 10, 2010 1:17 AM

I don't know the details of that deal, but are you really suggesting that a company in bankruptcy can acquire another company worth $2.4 billion or so?

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Sunday, January 10, 2010 1:31 AM

Kmart was just out of (year or so) bankruptcy when they purchased Sears for 11billion.

  • 2002 - Kmart Corp. files for Chapter 11 bankruptcy. The retailer closes 600 stores and lays off 57,000 employees.
  • 2003 - Kmart Corp. comes out of bankruptcy and is renamed Kmart Holding Corp.
  • 2004 - Kmart buys Sears, Roebuck & Co. for $11 billion.

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Sunday, January 10, 2010 2:14 AM

I thought Sears bought K-Mart, not the other way around.

Edit: I stand corrected. Always visit Da Google before you speak.

Last edited by Ensign Smith, Sunday, January 10, 2010 2:15 AM
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Sunday, January 10, 2010 10:39 PM

Having been a huge Six Flags fan in the past (yes, me!) I would love nothing more than for the company to emerge from the dark era and succeed, especially if they've learned something about the value of customer service.

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Sunday, January 10, 2010 10:45 PM

Yeah, I'm with Moosh. I can't wait to see what happens when they get through the bankruptcy and get to really move forward with things. I'm definitely rooting for them.

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Sunday, January 10, 2010 10:47 PM

If the last few years are any indiciation, they're totally on the right track.

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Wednesday, January 13, 2010 3:23 PM

Weird how the two companies seem to be swapping places.

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