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BoddaH1994

Apex Group files for bankruptcy

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And so it starts...not surprised that they are the "first" to do this (maybe some smaller ones have?)

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6 minutes ago, disco2000 said:

And so it starts...not surprised that they are the "first" to do this (maybe some smaller ones have?)

Eh.... I think there were underlying issues that weren't directly related to the pandemic.  This may or may have not happened regardless.  The two park closings were certainly a symptom, implying the death blow could be coming.  The good news is that MAYBE... maybe... the  new ownership may want Indiana Beach open for one reason or another.

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1 minute ago, BoddaH1994 said:

Eh.... I think there were underlying issues that weren't directly related to the pandemic.  This may or may have not happened regardless.  The two park closings were certainly a symptom, implying the death blow could be coming.  The good news is that MAYBE... maybe... the  new ownership may want Indiana Beach open for one reason or another.

Absolutely they had underlying issues...so this was the final straw that sealed it and made it an easy decision for them...but I suspect they would have ended up declaring it anyway...

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Just now, disco2000 said:

Absolutely they had underlying issues...so this was the final straw that sealed it and made it an easy decision for them...but I suspect they would have ended up declaring it anyway...

I saw Six Flags borrowed to increase liquidity. I wonder how things are going in Grand Prairie right now. 

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3 hours ago, BoddaH1994 said:

I saw Six Flags borrowed to increase liquidity. I wonder how things are going in Grand Prairie right now. 

https://investors.sixflags.com/news-and-events/press-releases/2020/04-08-2020-211458352

Six Flags put out an investor update.  They have enough liquidity that they believe they can last until opening of the 2021 season, even if the parks do not open this year.  They did cancel $40-50 million dollars of projects intended for 2020, no details on exactly what was cut.  But people have been putting together some clues, SFDK for instance has deleted the pages from their website associated with the new ride that was supposed to open this year.

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27 minutes ago, Kenban said:

https://investors.sixflags.com/news-and-events/press-releases/2020/04-08-2020-211458352

Six Flags put out an investor update.  They have enough liquidity that they believe they can last until opening of the 2021 season, even if the parks do not open this year.  They did cancel $40-50 million dollars of projects intended for 2020, no details on exactly what was cut.  But people have been putting together some clues, SFDK for instance has deleted the pages from their website associated with the new ride that was supposed to open this year.

Good thing they had kind of a “meh” year for investments. Imagine buying a pass anticipating a new ride and they were like LOL JK we aren’t doing that anymore. They actually did that with a dark ride under the old Six Flags in the early 2000’s if I recall. 

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9 hours ago, BoddaH1994 said:

Good thing they had kind of a “meh” year for investments. Imagine buying a pass anticipating a new ride and they were like LOL JK we aren’t doing that anymore. They actually did that with a dark ride under the old Six Flags in the early 2000’s if I recall. 

They basically did that with West Coast Racers. Maybe with the delay New Jersey Devil will open with the park. 

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No surprise here with what happened with IB. 

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An interesting part about the Indiana Beach sale is that it mentions in the article above that they have sold some of the rides already.  I wonder which rides they have already sold.

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93876029_10157944538022199_218469447155843072_o.jpg

Looks like the sale went through.  Indiana Beach has updated their Facebook page with this photo.  Best news I have heard in a little while.

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