Another Victim: 6 Flags...

[KharmaTrain]

Guess whose next on the unemployment line...



http://lohud.com/article/20090312/NEWS05/903120501/-1/newsfront

Six Flags Great Adventure in Jackson will operate business as usual this summer, a park official said today, even as its parent company weighs bankruptcy in a scramble to pay back investors.

Angel Aristone, a spokeswoman for the Jackson theme park, said Great Adventure is profitable. It isn't raising the daily admission fee of $39.99 online or $49.99 at the gate. And it is turning its attention to new attractions.

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New York-based Six Flags said this week that it may need to file for Chapter 11 bankruptcy if it can't reach a deal to restructure almost $300 million in preferred stock, which is due in August.

A bankruptcy filing would allow the company to continue to operate while it works to improve its financial footing. But the discussion of bankruptcy, laid out this week in a filing with the U.S. Securities and Exchange Commission, shows the company is feeling the stress of the declining economy and the slow credit markets.

There's gotta be a roller coaster metaphor in here somehwere...

Discuss...