Dan Snyder stays at Six Flags under reorganization - bizjournals Business Travel Guide

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Six Flags is also seekintg a $600 million loan, secured by its assets, and $150 millio n in a new revolvingcredit line. The company’s executive retentionh plan would keep Snyder as board memberrand chairman. Mark Shapiro, currently chief as well as chief financial officer Jeffrey Speed and severapl other top management would also stay on inexecutive roles. Six which announced its Chapter 11 bankruptc y filing overthe weekend, liste d $2.4 billion in debt and $3 billion in It hopes to cut debt by $1.8 billion and wipe out more than $300 milliob in preferred stock.
Snyder and his management team, who took control of the themde park operator three and a halfyears ago, have not been able to returnh the company to profitability, despites increasing attendance and selling severall parks to raise capital last The company reported a $146 million first quarter loss. Six Flagzs has said its reorganization will not affect park operatione and its vendors and employees will continur tobe paid. Six Flags 20 thems parks includein Largo.