I don't think bankruptcy in the magnitude that SF was forced into can ever be fully recovered from.
I agree. Their investment strategy from 1999-2006 was, well, extremely daring and guaranteed to land them in major debt. Airtime Thrills made a video talking about Six Flags' rapid expansion from 1999 to 2000, but the 6 years after that were nothing short of wild. The trio of Giant Inverted Boomerangs, at least ten B&M coasters, an Intamin prefabricated wooden coaster & the tallest coaster in the world (also by Intamin) back-to-back in the same park as well as many prototype attractions clearly marked Six Flags' theory that huge investment would equal huge returns. Unfortunately, we all know the end to this story. The 2007 Recession meant that there wasn't as much money to go around anymore, and Six Flags began cutting back majorly. Those previous years of rapid expansion compensated the quality of Six Flags' parks for an ever-expanding lineup of rides, so Six Flags tried to improve overall park quality in an attempt to bring back the crowds that had been lost due to dirty pathways, abandoned rides, and unkempt buildings. If I recall correctly, Six Flags was roughly $1.6 billion in debt from when the rumor that they would buy the SeaWorld Parks went around. I think that given 20-25 more years, Six Flags will have recovered and be able to spend the big bucks once more - but in a smarter way than last time.