Six Flags
Status: Shares have been delisted from the NYSE, but the company is trying to avoid Chapter 11; in April it announced a debt refinancing plan.
Revenue: $1 billion
Debt: $2 billion
Summary: The company's previous owner, Premier Parks, spent way too much on new rides, acquisitions, and an ill-fated expansion into Mexico, Belgium, and Canada. Private equity investor and Redskins owner Daniel Snyder took over in 2005 after a proxy fight, but his turnaround is not happening fast enough. The company needs to come up with $300 million for its preferred stockholders - which include Bill Gates' Cascade Investment - by August.
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