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Monday, January 21, 2013

Atari's US business files for bankruptcy protection in a bid to restructure

The US-based part of video game maker Atari has filed for bankruptcy protection under chapter 11 of the United States Bankruptcy Code. It’s aiming to distance itself from Atari S.A., its parent company in France.

Atari, which launched in 1972, is responsible for a portfolio of more than 200 games and franchises including Asteroids, Missile Command, Pong and Rollercoaster Tycoon. It’s also recently launched new mobile and tablet games for iOS and Android devices.

In a statement, Atari said “The Chapter 11 process constitutes the most strategic option for Atari’s U.S. operations, as they look to preserve their inherent value and unlock revenue potential unrealized while under the control of Atari S.A.  During this period, the company expects to conduct its normal business operations.”

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Author: The Fonecast
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