BoddaH1994 Posted April 10, 2020 Posted April 10, 2020 Paywall, but you can read the first few paragraphs. They needed Al Weber’s leadership. https://www.wsj.com/articles/amusement-park-operator-apex-files-for-bankruptcy-11586460368 Quote
disco2000 Posted April 10, 2020 Posted April 10, 2020 And so it starts...not surprised that they are the "first" to do this (maybe some smaller ones have?) Quote
BoddaH1994 Posted April 10, 2020 Author Posted April 10, 2020 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. Quote
disco2000 Posted April 10, 2020 Posted April 10, 2020 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... Quote
BoddaH1994 Posted April 10, 2020 Author Posted April 10, 2020 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. Quote
IBEW_Sparky Posted April 10, 2020 Posted April 10, 2020 Non-paywall story... https://finance.yahoo.com/news/apex-parks-group-announces-financial-044800755.html 1 Quote
Kenban Posted April 10, 2020 Posted April 10, 2020 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. Quote
BoddaH1994 Posted April 10, 2020 Author Posted April 10, 2020 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. 1 Quote
flightoffear1996 Posted April 10, 2020 Posted April 10, 2020 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. Quote
IndyGuy4KI Posted April 10, 2020 Posted April 10, 2020 No surprise here with what happened with IB. Quote
tcraig88 Posted April 11, 2020 Posted April 11, 2020 Potential Sale announced soon: https://www.pharostribune.com/news/local_news/article_e7162c58-7b43-11ea-a504-6782ca71fe03.html?fbclid=IwAR280YR565Jfk50zT2uOlX1kTX3MXN9WaWdhfRJLBcNTIzbIYSOFb_S9omk Quote
Rivertown Rider Posted April 14, 2020 Posted April 14, 2020 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. Quote
Kenban Posted April 16, 2020 Posted April 16, 2020 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. 8 Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.