Six Flags declares bankruptcy, but is the ride over? Let's hope not!
Filed under: Budgets, Recession, Bankruptcy
Its TV commercials would count this as "no flags": Six Flags, which operates 20 amusement parks, filed for Chapter 11 bankruptcy Saturday. It's been one long downhill ride for the thriller, which has been battling debt for years. The past few months have seen the park's embattled CEO, Mark Shapiro, giving high-profile interviews (like this one with CBS) about the company's dire straits that were, investors knew, de facto warnings of the coming filing. Even the parks' TV pitchman, the elderly Mr. Six, is aging and arthritic.
Despite the filing, the company's optimistic public face hasn't changed. "We can assure you that this is a corporate issue, and it does not affect the day-to-day operations of the parks," said a company rep. "Our parks are open this weekend, and will continue to be open with more new rides and attractions and longer hours all summer."
The company plans to file a reorganization plan that aims, mostly through deleveraging, to clear $2.4 billion in debt. Six Flags keeps some soggy books, and that started even before it had to write off an entire park in New Orleans after Hurricane Katrina. Says Shapiro: "We are cleaning up the past and positioning the company for future growth."
So it's back-office accounting, and not attendance, that is the issue. In fact, thanks to the continued addition of new banner attractions and aggressive price-cutting, some of its parks posted record attendance last season.
But will they be there next year? As of now, yes. The attendance numbers could be seen as an encouraging sign. So could the reaction from individual parks' management. Magic Mountain's big boss told Theme Park Insider that despite the filing, "We are actively planning for our 50th celebration in 2011."
However, the parks' operations have a poor reputation, and a chronic lack of resources won't reverse that anytime soon. Six Flags parks, while steadily improving thanks to $100 million in improvements, still suffer from an overrun of unsupervised teens, dirty facilities, and long lines created by too few ride vehicles.
Then again, they're also still putting cutting-edge thrill rides into play, which regularly sends rival Cedar Fair back to the drawing board in a never-ending battle of the blockbusters.
Besides, where will all those American teens go to blow off steam now -- state parks?
Six Flags, which has locations all over the country, is an important resource for Americans who want to have fun closer to home this year. The seats may be sticky and the ride operators surly, but if we lose Six Flags, it'll be a real loss to the country. No matter what beefs we have with the way the parks are run, they're a terrific value. They can't all be Disneyland.



Reader Comments (Page 1 of 3)
6-14-2009 @ 1:44AM
jenna said...
Six flags is a dirty park, hasn't been kept up nicely for years out here in Calif. Mostly gang bangers hang out there, very few rides for little kids. I'm not surprised one bit. We used to do our cheerleading competitions there, but even when we were in HS most of the girls hated going there, so ghetto.
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6-15-2009 @ 2:17PM
marehoodlum said...
Yeah, we have a six flags about 30 minutes from us in NJ, and we NEVER go there...it's filled with gang bangers, and punk kids roaming around...no thanks.....I take my money and hit Orlando instead....
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6-15-2009 @ 2:18PM
Xavier said...
hey jenn..im from brooklyn, ny...and i go to Six flags great adventure in jersey..its way better than any other six flgs in the world trust me when i say this..you be better off at great adventure then that bull shyt there in cali
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6-15-2009 @ 2:20PM
mare said...
Agreed, I live about 20 minutes away from Six Flags in NJ, and we haven't been there in years...last time we were there, we saw a bunch of punks trying to trip up one of the characters...
Now i hear it's all gang bangers there anyway...right, I want to subject my kids to that...I don't care if they are giving away free admission...I'll take my money and go back to Orlando ...
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6-15-2009 @ 4:28PM
Lynda said...
I live 40 minutes from Six Flags in Gurnee, yet we are season passholders for Cedar Point. I can only hope that Cedar Fair considers buying them!
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6-15-2009 @ 2:27PM
wes said...
I don't like the searching my body and pockets for weapons as I am a 40 year old parent. The prices are too high, and for the price of a family meal, you can go to Cedar Point, in Sandusky Ohio, and get a hotel, and 2 days at the park with 15 rollar coasters.
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6-15-2009 @ 2:41PM
Nicole said...
I love that place. I go to the one in California too, for youth group outings and such. I never thought it was sketchy or anything. I don't mind that it's not very clean (this coming from someone with OCD bordering on severe) because it makes it more like a carnival than a high end theme park. You don't have to worry that you're going to mess something up and it's very casual and relaxed. I do love going to Disneyland, but who can afford that, really? Six Flags is cheap, close by, and has a ton of stuff to do. Six Flags is a cherished part of my childhood and I think it's a good experience, I'm not any worse off because of it.
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6-15-2009 @ 3:07PM
Heather said...
I agree, the Six Flags in Valencia is disgusting. I've watched over the years as it's declined and I find it sad. It's expensive to get into Disneyland but at least you can see where your money goes there. It's pristine! I'd be fine paying more to get into Six Flags if they cleaned the place up. The last time I was there every single trash can was overflowing.
Oh and the metal detectors and gang kids - they totally ruin the experience. I'm tired of waiting in long lines staring at teenagers making out like they are in their own homes.
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7-02-2009 @ 8:46PM
Luvmymagicmtn. said...
Magic Mountain is a WONDERFUL park! It has huge amounts of people moving through it but everyone there works hard to make it a fun family park. Yes, there have been problems with Bangers in the PAST but they have great security and have no problem removing or not letting "those kinds" in. I feel very safe there with my kids. Also, the rides are great and are safety checked everyday and during the day. It's a RIDE park and not to be compared to Disneyland, which I also love.
If you have any problems there go directly to an associate and report it. Don't forget though, kids will be kids, teens will be teens.
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6-15-2009 @ 3:25PM
ted said...
I was management in the upstate NY park and let me tell you, you do not want to know what goes on in this park behind the scene. The rodents and animals that have free range of the foodstands and warehouse leaving there feces all over is unbelievable. This does not include the staff that are always doing things (each other) in these stands on the couters or wherever they can. The stories are never ending. It is amazing no one has died from the food here.
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6-15-2009 @ 3:50PM
Kevin said...
I love Great Adventure in Jackson. The rides there are fantastic! I haven't seen "gang bangers" but there are a lot of groups of teenagers..DUH! No kidding, it's an amusement park!
What do you expect, Senior Citizens?
There is a section for little kids, too, however, the park isnt really designed for little kids, never was. Fantastic roller coasters, lots of other rides, Great Adventure has come a long long way from the days when the Haunted House was there...
mare,
You HEAR its all gang bangers? Not really. It is quite possible that your source is just afraid of teenagers. They're not really bad people.
I was a frequent visitor when I was younger (1985) and recently went back to the park to go on the new coasters. It's clean, most people were friendly, the rides are a far cry from the old days when Rolling Thunder and Lightning Loops were the only thrillers..
I suggest you go there once and SEE what its like now, rather then relying on hearsay.
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6-15-2009 @ 4:04PM
Lisa said...
I can see the Valencia one from home and it is amazing to think they are going bankrupt with the way they leave lights on all night. All those ride lights are on all night long. Inside it is a mess and unsafe, I was injured the last time I went and was given a free ticket back, that is all. I was injured upon walking in the gate and a metal box lid fell on my toe as I pushed my daughters stroller out of the way, it was my toe or my babys head and I am thankful it got my toe instead but things like that should be kept up on and when something like that happens I should have been given more then a day free. I ended up havinga bruised bone and my foot was black and blue and my toe nail died and didn't heal for months. It was awful. I have no problem with this park going away or someone else buying them and taking care of the place!
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6-15-2009 @ 6:47PM
Darryl Heine said...
I suggest CedarFair buys Six Flags just like CedarFair acquired the Paramount Parks a few years ago. Then...
* CedarFair would own 2 Great America parks (One in Santa Clara, CA., the other in Gurnee, IL.) - Both were once owned by Marriott before they were sold off.
* CedarFair would keep the SIX FLAGS name for its Georgia, New Orleans, St. Louis, and Texas parks.
* Some parks could drop the Six Flags name (like Discovery Kingdom - formerly Marine World - in Vallejo, CA; and America Park in Largo, MD - formerly The Wildlife Preserve and later Wild World)
* CedarFair would replace the Warner Bros./Looney Tunes characters with either Peanuts characters or Nickelodeon characters or licence a new character in the park thing (like maybe Marc Brown's Arthur and Friends?)
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6-15-2009 @ 4:08PM
joeyk said...
I am a coaster enthusiast, and quite frankly if you go to a theme park, your there to ride the rides- not blend in with the damn crowd. As for "gang bangers" going-- are people having sex in the middle of the park??? JUst because a person looks or dresses a certain way doesnt make them guilty for such labels. As far as the park being a dump goes, why dont you get your complaints off of here and make suggestions to the park itself!!
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6-15-2009 @ 4:10PM
Shel said...
Great Adventure has four different areas for kids. There are plenty of rides for the little ones. We get season passes every year and the kids love it there. Sure, there are some ignorant teenagers but I've never come across "gang bangers" either. They definitely have all the best thrill rides.
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6-15-2009 @ 4:19PM
Brandon said...
I am not sure when you guys go to Six Flags in California and there are "gang-bangers" all over the place. I have been going there for about 20 years and I have not once had a problem with fights or gangs or anything. I think Six Flags is an incredible value for all of the top notch thrill rides that they have. Sure, they do not have the best theming as does Disneyland or even Sea World for that matter, but with all of the attractions, you don't really have time to sit and enjoy the scenery. Disneyland just mastered the art of scenery and theming. Six Flags does have some work to do to improve their facilities, but overall, I think the parks have done fairly well with what they have. If it had a multi-billion dollar corporation behind it, any theme park would be spotless with ridiculously happy employees all the time. We have to cut them a break. Six Flags is the only theme park that actually considers giving consumers and travelers a break when it comes to the wallet. Long live Six Flags!
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6-16-2009 @ 9:39AM
Krystal said...
Six Flags of Texas in Arlington is so much fun! We love it and our kids love it.
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6-15-2009 @ 4:41PM
woody said...
Several years ago I took my 3 young kids to six flags in Atlanta on opening day and the park was dirty, the handrailings and buildings had paint peeling and though they sold me tickets for the kids rides, none were operating. It took about an hour to find someone to help me and they eventually opened two kids rides for the day. I asked about a refund as we had paid admission and already bought lunch for 5 but they said no. We've been back since and it's not much better. I took my kids to Cedar Point in Sandusky and they're spoiled now as there is no comparing the two amusement parks.What does six flags do in the winter? Obviously not clean and paint.
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6-15-2009 @ 4:45PM
kingvjim said...
Marehoodlum and Mare (related?) You both couldn't be further from the truth. I grew up at 6 Flags Great Adventure in Jackson NJ. Spent the better part of my teen years there (was even there the day the haunted house burned down), went thru my 20's a few times in my early 30's and am now 39 and take my teenage stepkids (we got the 3 park season passes) was there 2 weeks ago. The park was quite clean compared to when I was a teen, the rides keep getting better. (Rolling Thunder is now a SMALL ride) The staff, although quite young (as always) was pretty good for it being so early in the season and the lack of full staff till the teens are all out of school. There are the usual issues with being crowded (still better that the boardwalk or the beach) and those gangbangers you refer to? Never once seen one, so I'm guessing they're just average rude New York teenagers as it always has been. I guarantee you there are no real gangbangers getting into that park with any sort of weapon. I watched a kid get pullled out of line at the park entrance for setting off the metal detectors with a (get this) condom...foil wrapper. His date wasn't too happy about that, but if that sets it off, a knife or gun CERTAINLY will.
Let's not forget to mention to the others from where 6 Flags parks are just amusment parks that on the grounds of Great Adventure in NJ there is also Hurricane Harbor a 6 Flags waterpark that puts most others to shame And the Safari Park which is the largest drive thru Safari in North America. Where else can you do all this in 1 trip?
My only complaint is that the food in the park is ASTRONOMICAL!!!! But we usually bring food in a cooler, leave it in the car then go out there for lunch/dinner and eat while driving thru the Safari checking out all the cool animals....then right back into the park till closing.
If 6 Flags were to go away it would be a serious crime.
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6-15-2009 @ 9:00PM
ging said...
Well said kingvjim.
I LOVE great adventure!