Dan Snyder would stay at Six Flags under reorganization - Dallas Business Journal:

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and senior management would stay in place under a bankruptcy reorganizatio n plan filed withregulators Monday. Six Flagsw is also seeking a $600 milliobn loan, secured by its assets, and $150 million in a new revolvinvcredit line. Six Flagzs operates Six Flags Over Texas and Hurricane Harborein Arlington. The company’s executivwe retention plan would keep Snyder as boar memberand chairman. CEO Mark CFO Jeffrey Speed and several other top management would also stay on inexecutive roles. Six Flags, which announced its Chapter 11 bankruptcu filing overthe weekend, listed $2.4 billion in debt and $3 billion in assets. It hopes to cut debt by $1.
8 billionb and wipe out more than $300 milliobn in preferred stock. Snydef and his management team, who took contropl of the theme park operator three and a halfyearss ago, have not been able to return the company to profitability, despite increasing attendance and sellint several parks to raise capital last year. The company reportefd a $146 million first-quarter loss. Six Flags has said its reorganizatiomn will not affect park and its vendors and employees will continue tobe