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Concluding a more than four-year rollercoaster without inclines which supplied City Paper sports writer Dave McKenna with endless amounts of material, the Daniel Snyder-controlled Six Flags chain of amusement parks is officially bankrupt. Filing yesterday, the company finally admitted that their $2.4 billion debt mountain was unclimbable, even after selling off properties to gain capital and attempting to restructure agreements with creditors. Six Flags' stock offering was recently kicked off the New York Stock Exchange and downgraded to "junk" status. It's reported that Snyder and his Redskins buddies who went in on the company lost over $130 million on their initial investment; I wonder how many flags losing that kind of scratch registers on the fun-o-meter?
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Five flags. Five burning flags.
i, for one, won't miss their dc park.
yeah, but the lil' hoodlums will.
Well, you won't have an opportunity to: it's going to keep operating as they go through the bankruptcy process.
The only place more god awful than Six Flags is Fed Ex Field. That's quite a portfolio, Napolean Douchbag!
I feel like Six Flags hasn't even been trying for the last 5 years. Ever since that stupid commercial with the annoying old guy dancing to the Venga Boys, I've only seen a handful of ads, and they're all either god-awful variations of the same theme, or the grating "more flags more fun" garbage. If they would actually target adults above the age of 12, maybe they'd get more people to go.
$130 million? Snyder has thrown away more on bad free agent signings for the Redskins.
I wouldn't even consider visiting once I heard about their parking situation - something like $25 per car, with public transportation alternatives intentionally blocked? Just the kind of desperate plan that a company hopelessly in debt is forced to try ...