Company executives for Six Flags Inc have further fuelled speculation that the US theme park operator is on the verge of bankruptcy by filing plans with the US Securities and Exchange Commission calling for "huge spending cuts" and the possible sale of more parks. The plan, headed by new CEO Mark Shapiro, is to cut operating expenses by as much as $60 million in 2008 by slashing media spend and personnel.
Reports from Six Flags said that it wants to cut loose one of its three advertising agencies, and plans to reduce radio spending to concentrate more on Internet-driven opportunities.
The amusement park firm owns 21 parks around the US, and is attempting to overcome £2 billion in debt inherited from the previous owners.