Discovery Zone Emerges From Bankruptcy

Discovery Zone Inc., which operates children’s play centers, said it has emerged from bankruptcy protection. A group formed and led by the New York-based investment firm Wellspring Associates raised $100 million to acquire majority control of the Fort Lauderdale, Fla.-based firm and to help back Discovery Zone’s new business plan. Wellspring has recruited a new senior management team for the company led by President and Chief Executive Scott Bernstein, a former senior executive of Six Flags Theme Parks Inc. and Time Warner Inc. Discovery Zone is also seeking to revitalize its outlets through promotional alliances with Pizza Hut, Toys R Us Inc. and others.