Cedar Fair Confirms Financial Troubles

[Oscar]

Cedar Fair has released a press release where it confirms that it is running into monetary trouble and their plans to help alleviate their debt.

In an effort to reduce their debt, they have announced the possible sale of three theme parks.

In addition, the Company continues to pursue the sale of excess land in the Toronto and Cleveland markets and continues to discuss the potential sale of California?????????s Great America, in Santa Clara, California, with the San Francisco 49ers. It has also completed a strategic review of its assets and has decided to explore the potential sale of Worlds of Fun, in Kansas City, Missouri and Valleyfair, in Shakopee, Minnesota. The Company said it would be premature to speculate on either the price or timing of any potential transaction.

So who will pick up these parks that Cedar fair plans to sell? ...

The full press release can be found here: Press Release

Are there any small companies that are not in financial trouble??

Uh ohh Valleyfair [:(] Good luck , baby. Hope someone good picks up the park...

Who owns Kennywood now?? Is it still KennyCorp.? Or was that taken over?

^ This would be your answer - http://www.parquesreunidos.com/#

Good news for me with that whole continuing to pursue extra land in Toronto! Too bad they might have to sell some other parks though, whatever gets them out of debt.

Yeah, I was expecting this. All summer last year at CP, we were having to make huge staffing cuts at TGI Friday's because people kept saying "Park attendance is down 17%." And if Cedar Point was down that much, I can only imagine the hell that was going on at the lesser-known parks. This is actually one of the reasons that I jumped ship for this coming summer. I was tired of only getting 35 hours a week.

Hmm, stock has gone up quite a bit today after weeks of falling. Up $1.45 per share to $7.86 a share.

Actually cjd, from what I know smaller parks are doing fairly well right now. I know Lake Compounce did well last year and the year before despite the gas prices because it was easier for people to go to their small regional parks rather than going on vacations to resort parks. So in the end I think small parks (and most small business) will come out of all this doing alright.

Poor Valleyfair... i guess ill have to hope for the best!

Cedar Fair would never get rid of Cedar Point, it's there flagship park!

Why not Michigan's Adventure over Valleyfair?
I mean, that's where the FAIR in Cedar Fair came from...

Guys, remember, they are not 100% selling them. CF is just considering it.