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Six Flags, who didn't spend their teenage years hanging out at a Six Flags, has filed for Chapter 11 bankruptcy protection. But don't worry about where your teenager will be playing this Summer, the parks are almost unaffected by the filing.

"No one should be confused about what a bankruptcy process means for Six Flags. Following a record year of performance in 2008, which completed the three-year turnaround of our system-wide park operation, this action to clean up the balance sheet paves the way for a full revival of the company. We will emerge from this process stronger and more competitive than ever," Shapiro noted.

He has also emphasized that the Chapter 11 filing will have no impact on the company's day-to-day park operations.

So it is still safe to buy those season tickets.

source