Arrow confirms restructuring and has filed for Chapter 11 reorgranization

Posted | Contributed by Jeff

Arrow Dynamics president Fred Bolingbroke confirmed to CoasterBuzz today that the company has filed for reorganization under Chapter 11, due in part to the current economy and financial loss related to X (Magic Mountain's new 4th Dimension coaster). Arrow will also discontinue internal steel fabrication in favor of outsourcing. Engineering and parts service personnel, in addition to project management, QC and field service departments are being retained. Bolingbroke says he feels strongly that Arrow is on the right path to making a comeback in the industry.

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