Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

4 of 15
BACKNEXT
Six Flags waves the white flag
Six Flags waves the white flag
The economy has been quite the thrill ride for Six Flags. The New York City-based amusement-park operator went belly-up in June, unable to spin off $2.4 billion in debt -- even on the Tilt-A-Whirl.

But never fear: The chain's 20 parks, which stretch from Montreal to Mexico City, will remain open. The Chapter 11 filing is "strictly a financial restructuring" of the company's debt, said President and CEO Mark Shapiro in a statement.

The parks attracted 25 million visitors in 2008, and the company made $275 million. "Six Flags has been a favorite family destination for almost a half century. Our financial reorganization will best position our parks to entertain millions of guests for another 50 years," Shapiro added.

NEXT: Fancy soap-maker can't hold water

Last updated September 25 2009: 2:55 PM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
The stock market's wild week in 6 pictures It was the wildest week in stocks in recent memory. Here's photos and CNNMoney's tweets of reactions to the panicked selling on Monday and Tuesday, which gave way to a mad buying scramble on Wednesday and Thursday. And then...a selloff on Friday again. More
How New Orleans is learning to live with water After Hurricane Katrina, the city of New Orleans had to reinvent the way it manages water and protects itself from future storms. More
Your degree will earn you the most from these colleges Art majors can make big bucks, too. Find out which school has the highest paid grads in your major. More

Special Offer