Media Mention
Expert Warns Six Flags May Not Avoid Bankruptcy amid Financial Struggles, Park Closures
People
Jonathan Shenson, Partner in the Bankruptcy, Reorganization & Capital Recovery and Corporate Groups, shared his insights with The Street and two People Magazine articles regarding Six Flags Entertainment Corporation's recent financial challenges.
Excerpt from "Travis Kelce, 'Lifelong' Six Flags Fan, Joins Investors to Revive Amusement Parks"
“It’s hard to see how that improves,” bankruptcy attorney and partner at Los Angeles-based firm Greenberg Glusker Jonathan Shenson told PEOPLE following the report. “If anything, I took away from that report, from those financials, that bankruptcy or Chapter 11 is more likely than it was before they were released, that’s for sure.”
Excerpts from "Expert Warns Six Flags May Not Avoid Bankruptcy amid Financial Struggles, Park Closures"
“I don’t think they’ll be able to avoid bankruptcy at the end of the day,” attorney and partner at Los Angeles-based firm Greenberg Glusker, Jonathan Shenson, told PEOPLE in September. “I think they need to almost reimagine and reinvent or almost change the whole business model.”
In order to address the company’s over $5 billion debt, Shenson said Six Flags needs to focus on “shedding” its unprofitable locations.
“It seems to me the most viable path forward: a very slimmed-down operation where just the flagship theme parks and the ones that do really well are the ones that remain,” he said.
