Six Flags filed for bankruptcy in 2009 during the global financial crisis.
Six Flags operated amusement parks across the United States, Canada, and Mexico. The company expanded significantly and carried substantial debt, while attendance and consumer spending weakened during the financial crisis.
Six Flags Entertainment Corporation filed for Chapter 11 bankruptcy protection on June 15, 2009. Its restructuring plan reduced debt and transferred control to lenders. The company emerged from bankruptcy on May 3, 2010, and continued operating its parks under the Six Flags brand.
The bankruptcy did not mean that every Six Flags park permanently closed. The company’s parks continued operating, and the reorganization focused mainly on its corporate finances. Six Flags is also distinct from Cedar Fair and SeaWorld Parks, which are separate amusement and theme-park operators.