Cedar fair outlines measures taken in response to covid-19

Cedar fair outlines measures taken in response to covid-19.cedar fair entertainment company -withdraws long-term financial guidance.cedar fair entertainment company - suspends quarterly distribution payments.cedar fair entertainment - eliminated nearly all of its seasonal and part-time labor costs until its parks prepare to reopen.cedar fair entertainment - reduced ceo's base salary by 40% and base salaries of all other executives by 25%, effective april 27, 2020.cedar fair entertainment company - deferred base salaries for all other salaried employees by 25%.cedar fair entertainment company -anticipates spending $85-100 million on capital improvements in calendar year 2020.cedar fair entertainment company - as of end of q1, had cash on hand of $26 million and $190 million available under its revolving credit facility.cedar fair entertainment - should park closures extend later into year, is prepared to activate additional cost-cutting and cash-savings measures.cedar fair entertainment company -expects net revenues in q1 of 2020 to be about $10-15 million lower than same period in 2019.cedar fair entertainment company - deferred revenues at end of q1 remained up more than $30 million, or more than 20%, over same time last year.
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