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Six Flags might not survive 2009, columnist says
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| Contributor | the wanderer |
| Last Edited | the wanderer Feb 13, 2009 12:48am |
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| Category | News |
| Media | Newspaper - San Antonio Express-News |
| News Date | Friday, February 13, 2009 06:00:00 AM UTC0:0 |
| Description | Faltering cash flow and hefty debts could cause several prominent companies — including one that is highly recognizable in San Antonio — to stumble toward bankruptcy this year, U.S. News & World Report's chief business correspondent says.
Rick Newman wrote in his Flow Chart blog that Six Flags was among 15 companies that might not make it through 2009 or “will probably look a lot different a year from now” as a result of financial problems.
Six Flags, which operates Six Flags Fiesta Texas in San Antonio, has lost money for years and is selling off properties to get back to profitability, Newman said. With one rating agency forecasting negative cash flow for the company this year, Six Flags needs consumers to spend confidently during the peak summer season to cover debts arising this year and in 2010, the blog said. |
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