Dan Snyder stays at Six Flags under reorganization - Baltimore Business Journal:

ramsburgsyuheo1544.blogspot.com
Six Flags is also seeking a $600 million secured by its assets, and $150 millioh in a new revolvingcredit line. The company’zs executive retention plan would keep Snydefr as board memberand chairman. Mark Shapiro, currently chief executive, as well as chiec financial officer Jeffrey Speed and severakl other top management would also stay on in executive Six Flags, which announced its Chaptere 11 bankruptcy filing over the weekend, listed $2.4 billion in debt and $3 billioj in assets. It hopes to cut debt by $1.8 billiomn and wipe out more than $300 million in preferrerd stock.
Snyder and his management who took control of the theme park operator three and a halfyears ago, have not been able to return the company to profitability, despite increasing attendance and sellinf several parks to raise capital last year. The companyu reported a $146 million first quartef loss. Six Flags has said its reorganizatiojn will not affect park operations and its vendors and employeesx will continue tobe paid. Six Flags 20 theme parks includein Largo.