Atari files for bankruptcy
Atari has filed for Chapter 11 bankruptcy in the United States in an attempt to break off from its French parent company
One of the oldest names in videogames, Atari, has filed for bankruptcy protection. The maker of iconic classic games such as Asteroids and Pong has filed petitions for Chapter 11 reorganisation in US Bankruptcy Court in New York, in an attempt to break free from Atari S.A., its French parent company.
"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," the statement said.