Monday, January 21, 2013

Atari Files for Chapter 11 Bankruptcy

Atari Files for Chapter 11 Bankruptcy

Atari, the iconic company that pioneered the video game era, has filed for Chapter 11 bankruptcy protection to “separate from the structural financial encumbrances” of its French parent company, Atari S.A. The filing, which was made voluntarily in a bankruptcy court in New York by Atari's US-based subsidiaries (Atari Inc.; Atari Interactive, Inc; California U.S. Holdings, Inc.; and Humongous, Inc.), also seeks to “seek independent capital for future growth” in digital and mobile games. The bankruptcy gives Atari three possible scenarios: either Atari Inc.

Gadget.com , Atari Files for Chapter 11 Bankruptcy, Atari Files for Chapter 11 Bankruptcy

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