Six Flags Inc., the New York City-based company that owns the amusement parks of the same name, emerged from Chapter 11 bankruptcy this Monday.
The company initially filed for Chapter 11 bankruptcy in June 2009, when it listed a debt of $2.4 billion.
Six Flags Inc. will undergo a name change to Six Flags Entertainment Corp. in conjunction with the $725 in equity that a new shareholders group headed by Stark Investments of St. Francis has put up to back the business.
“This reorganization constitutes the final step in the repositioning of Six Flags globally,” Six Flags St. Louis Park president David Roemer said in a statement. “While the day-to-day operations of our park were never impacted, it’s very exciting to envision a future that will allow us to rapidly grow and expand the array of services and entertainment for every single guest.”
“Investing in the infrastructure of our park will also remain a top priority,” he said. “For Six Flags St. Louis, that means continuing to improve and upgrade all elements of the park and planning for new rides, attractions and special events over the next several years, including of course our highly anticipated 50th anniversary season in 2011.”
These large businesses are only able to emerge from bankruptcy due to the skilled handling of their financial and legal needs. If you are facing financial difficulty or looking for information on filing for bankruptcy, contact the
Arizona business bankruptcy lawyers of the Harmon Law Office, LLC, at 480-829-0494.