Theme park operator Six Flags has announced that it could exit Chapter 11 bankruptcy as earlier as March under an $830 million financing deal it is arranging with lenders. But already Six Flags’ creditors are squabbling about how to hand the bankruptcy reorganization plan.

Six Flags’ reorganization plan is supported by a steering committee of its secured creditors and led by investment firm Avenue Capital …

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According to an article in the Bloomberg, Six Flags Inc. noteholders presented a competing bankruptcy plan to reorganize the bankrupt Six Flags theme park, accusing the Six Flags’ management team of creating a plan that only looks out for their interests.

The article said:

“Noteholders, who are collectively owed $1.3 billion, would split the company among themselves and fully pay off Six Flags lenders under the plan… The …

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Bankruptcy judge Christopher Sontchi has denied the request of Six Flags’ creditors to file a competing bankruptcy reorganization plan and extended by 60 days the exclusive right of Six Flags to reorganize the company in bankruptcy. The bankruptcy court agreed with Six Flags that allowing creditors to submit a competing bankruptcy plan would have endangered the company’s exit from bankruptcy and possibly the future of the company.

Allowing a competing …

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According to an article in the Dallas Morning News, Six Flags filed Chapter 11 bankruptcy in an effort to shed $1.8 billion in debt which is financially crippling the company. Six Flags which operates 23 theme parks in North America, including Six Flags Over Texas, Hurricane Harbor in Arlington and Six Flags Fiesta Texas in San Antonio, is struggling with massive debts that threaten to financially overwhelm the company despite experiencing a 5 …

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According to an article in the Star-Telegram, Six Flags Inc. announced that it may file for Chapter 11 bankruptcy because it cannot meet an imminent financial obligation as revenue has slowed significantly. According to the company’s annual report, the company does expect to have enough money to repay more than $300 million in preferred-income redeemable shares which mature August 15, 2009. If the company is unable to reach an …

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… puts a different feel to it.  Check out the following list of some big names.

First up is Six Flags.  Six Flags actually had a big year in2008.  The parks made $275 million and they entertained 25 million guests.  If you’re an amusement park fan, don’t fear, because Six Flags isn’t closing anytime soon.  The president of the company, Mark Shapiro, said the Chapter 11 is “strictly a financial restructuring”.  The main reason for the bankruptcy is that the company can’t …

Tags: Amusement park Chapter 11 Title 11 United States Code Six Flags

Six Flags continuing relationship with Chrysler, while Kimberly Clark plans for job cuts.

According to the Dallas Morning News, Irving based, Kimberly Clark, Inc., announced today that it would be cutting 1,600 non-production jobs.  The jobs represent about 3% of their total workforce.  The article states:

“These actions, while difficult, are necessary to help us emerge from this …

Tags: Bankruptcy Chrysler Dallas Morning News Kimberly-Clark Six Flags

… positioning, another company based in the metroplex announced plans to move forward. Last week, Six Flags Inc. announced that it was filing for bankruptcy. This week they are announcing an extended partnership with Chrysler Group LLC for one year. According to an article in the Fort Worth Business Press, the partnership is mutually beneficial, noting:

“As proven last season, Six Flags provides the ideal out-of-home solution for marketers,” said David McKillips, Six Flags senior …

… positioning, another company based in the metroplex announced plans to move forward. Last week, Six Flags Inc. announced that it was filing for bankruptcy. This week they are announcing an extended partnership with Chrysler Group LLC for one year. According to an article in the Fort Worth Business Press, the partnership is mutually beneficial, noting:

“As proven last season, Six Flags provides the ideal out-of-home solution for marketers,” said David McKillips, Six Flags senior …

… this type of service. If you insistent upon using a debt consolidation company there are some red flags you need to be aware of before you hand over your hard earned money:

RED FLAG: The debt consolidation company charges high up-front fees or monthly fees.

RED FLAG: The debt consolidation company wants to sign you up for their service; but they have not reviewed your financial situation.

RED FLAG: The debt consolidation company wants you to begin making payments into their …