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Bankruptcy fears send Six Flags stock down on Fri Mar 13 2009, 16:45
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Shares of Six Flags Inc., which has a theme park in Eureka, Mo., dropped to its 52-week low Friday after concerns grew about the company having to file for Chapter 11 bankruptcy when it disclosed it’s not able meet a financing obligation in August.
Six Flags was trading at 14 cents Friday, down from its 52-week high of $2.50 a share on May 7.
“We may be compelled to seek an in-court solution in the form of a pre-packaged or pre-arranged filing under Title 11 … if we are unable to successfully negotiate a timely out-of-court restructuring agreement” with shareholders and creditors, the company said in its annual report Wednesday.
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Six Flags was trading at 14 cents Friday, down from its 52-week high of $2.50 a share on May 7.
“We may be compelled to seek an in-court solution in the form of a pre-packaged or pre-arranged filing under Title 11 … if we are unable to successfully negotiate a timely out-of-court restructuring agreement” with shareholders and creditors, the company said in its annual report Wednesday.
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