Six Flags: setting the record straight on bankruptcy

You probably saw the mention of Six Flags’ bankruptcy in the links over the weekend (here’s the original article).  It is a shame that the company has gone bankrupt.  However, I was contacted via e-mail by a Six Flags spokesperson informing me that bankruptcy does not equal liquidation.  The company’s theme parks are still open for business.  Given the fact that now is the time when children go to theme parks in droves, I reckon it is crucially existentially important that Six Flags get out a positive message – lest they truly face liquidation.  Therefore, I am passing on the message.

Hello Edward,

I hope this email finds you well.

We know that you and many of your readers have been seeing the news reports about Six Flags’ bankruptcy filing earlier this weekend.  We can assure you that this is a corporate issue, and it does not affect the day-to-day operations of the parks. Our parks are open this weekend, and will continue to be open with more new rides and attractions and longer hours all summer.

I’d like to share with you a letter from Six Flags CEO Mark  Shapiro that he sent to park employees earlier today:

For more insight, I want to invite you to join Mr. Shapiro for his first blogger conference call this Monday, where he will give more information on the parks and  take your questions about the great future we have planned for the months and years ahead.

Following record performance in 2008, which completed the three-year turnaround of our system-wide park operation, our restructuring deal to clean up the balance sheet paves the way for a full revival of the company and we want to ensure you, and your readers, have an opportunity to hear about our plans for the future directly from Mr. Shapiro.

The conference call is scheduled for this Monday, June 15, 2009 at 3:30 pm EST. Please let us know via email response if you would like to join us for the call and we will send you the conference call details directly.

We hope that you find this information useful and look forward to hearing from you later this week.

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