This isn't actually how Chapter 11 works, for the record.
News Six Flags Financials
- Thread starter Phoggy
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This isn't actually how Chapter 11 works, for the record.
Isn't chapter 11 usually a process of restructuring assets and rearranging debts as approved through the courts and with lenders? And sometimes that also includes BoD/C-Suite personnel changes too?
Still operating better than when Kieran Burke was running the show.
But I still don't understand what Cedar Fair had to gain through the merger - they sold off some parks already, loosening the expansion desires, and are saddled with the bad PR and debt Six Flags has had for quite some time.
Still operating better than when Kieran Burke was running the show.
But I still don't understand what Cedar Fair had to gain through the merger - they sold off some parks already, loosening the expansion desires, and are saddled with the bad PR and debt Six Flags has had for quite some time.
I really hope, at bare minimum, this disaster causes them to rethink not only renaming the parks with the Six Flags name, but also all the other steps they’ve taken to more closely associate the legacy CF parks with the Six Flags brand — migrating them to the Six Flags app, replacing their own web domains with sixflags.com subdomains, etc.
I hate that my home park (KD) has its reputation tied to the nightmare down in Georgia and whatever (alleged) negligence that caused it to happen.
I hate that my home park (KD) has its reputation tied to the nightmare down in Georgia and whatever (alleged) negligence that caused it to happen.
Feels a lot like being a BGW fan and watching Busch Entertainment Corporation rebrand to SeaWorld Parks & Entertainment prior to Blackfish. History always repeats itself, huh?
Unfortunatly, SF issues will and do extend into KD. I know of two long time full-time KD maintenance people let go last year. They were told they could re-apply as part-time under SF. Stuff like that doesn't instill confidence that rides are properly maintained and monitored.
If experienced maintenance staff are being let go across the chain in this manner... this could relate to the disaster that just happened in Georgia. Obviously we can't conclude anything but its definitely something worth noting
I think a really frustrating here was when the merger happened it was pitched as more CF in control with SF with some voices in the room, and now it seems as though majority of the CF people were pushed out for SF.
Honestly I think the Six Flags logo in the Cedar Fair font says it all. The more superficially visible stuff (think general branding and even theming quality) tends toward Cedar Fair, but the underlying logistical and financial rot bleeding into the park experience and potentially having endangered customers all feels very profit-minded cust-cutting Six Flags
There are no legacy SIX folks running the show. Only three were kept on. One for one year only. Then selim was out and a consultant for a year
But now it’s basically an entire new corporate since Zimmerman etc had left and all the legacy cedar folks are mostly out now too.
They kept the SIX name but it’s an entirely new company to me since Reilly came in and hired who he wanted. It’s also basically an entirely new board.
But now it’s basically an entire new corporate since Zimmerman etc had left and all the legacy cedar folks are mostly out now too.
They kept the SIX name but it’s an entirely new company to me since Reilly came in and hired who he wanted. It’s also basically an entirely new board.
Just wanted to leave this here. Jesus Christ.
Yes it’s sad. I believe in them and their potential still but let me tell
You I’ve lost a house. On paper at least. In hindsight I should sold at the merger which as you show was the peak. Oh well. Can’t cry over spilt milk. I was too vested and invested to want to cash out.
You I’ve lost a house. On paper at least. In hindsight I should sold at the merger which as you show was the peak. Oh well. Can’t cry over spilt milk. I was too vested and invested to want to cash out.
On a separate but related note I was contacted by two law firms wanting to do class action suits if you lose money from the death at sfog. I mean we all lost money in theory. But we haven’t until we sell. And it’s just a paper loss until you do. That’s the risk with the market one takes. It sickens me these vultures. I mean I despise private equity firms but also these lawyers trying to kick someone when they are down. It’s gross and disgusting. I hope six flags can recover from all this negative. It’s very sad. Personally I don’t feel that they did many things wrong. I’ve enjoyed by times this year at Knott’s, magic mountain, kings dominion, cedar point and Carowinds. And I’m going to over Texas and fiesta Texas in a week. Time will tell about ththe accidents and who is to blame but other than that I truly feel they are a victim of bad timing with the economy, politics and inflation, gas prices etc. Things largely outside their control.
How different would this all turn out without Covid and the economic challenges now?
It’s like how would the regionals have grown if not for the 70s oil embargo? We will never know sadly.
How different would this all turn out without Covid and the economic challenges now?
It’s like how would the regionals have grown if not for the 70s oil embargo? We will never know sadly.
New 52-week low for FUN: $8.18...
An LBO doesn’t make the existing $5 billion in debt disappear. Adding acquisition debt means more interest payments. Where’s the cash flow to support that?
I know hidesight is 20/20 and whatnot, but I feel like Six Flags really made a massive mistake by committing to the Six Flags Over Georgia buyout back in 12/2024. I know debt was cheaper at the time, but they were already so overleveraged... why elect to onboard another $367.2 million in debt when your current debt is already such a strain? Insanely brutal that that's about to hit the company in 1/2027 on top of all of the other recent financial headwinds.
I remember being so relieved the first time a whiff of this appeared in 2019 (a Six Flags buyout attempt of Cedar Fair) and it got stamped out. Six Flags had such a trashy reputation. And here we are now with this travesty. No idea who there is to come to the rescue at this point.