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Old 01-21-2013, 11:49 AM   #1
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Atari files for Ch. 11 bankruptcy

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Atari files for chapter 11 bankruptcy, wants away from its French connection
Brad Sams 1 hour ago 6 Comments
The U.S. branch of Atari, quite possibly one of the most recognizable names in the game industry in 80s, has filed for chapter 11 bankruptcy in Manhattan. The goal of the bankruptcy is that the New York-based Atari Inc. wants to separate itself from its French parent company that has been bleeding cash since 1999.


Atari said in a statement to Bloomberg, "The Chapter 11 process constitutes the most strategic option for Atariís U.S. operations, as they look to preserve their inherent value and unlock revenue potential unrealized while under the control of Atari SA (ATA)".

It seems quite simple, Atari wants to separate itself from its parent (Atari SA) and during the bankruptcy proceedings, Atari expects operations to continue on as normal while it revamps its business model.

Atari states that they hope to look to outside investors as a means to raise capital and that they will weigh all means for raising additional funds to keep the company afloat.

Want to learn more about Atari's past? Check out our recent book review of the companyís operations during its limelight period.
SOURCE - http://www.neowin.net/news/atari-fil...nch-connection
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Old 01-21-2013, 12:32 PM   #2
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It's always upsetting when you hear things like this happen, but given that it's chapter 11, I think looking to the bright side would be nice here.
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Old 01-21-2013, 12:48 PM   #3
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I had no idea that Atari was even still around. Huh.
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Old 01-21-2013, 08:07 PM   #4
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I had no idea that Atari was even still around. Huh.
Same, but I don't keep up to date with the gaming industry that much.
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Old 01-21-2013, 10:14 PM   #5
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I thought Atari only made 'ironic' merchandise these days.
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Old 01-22-2013, 02:08 PM   #6
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Atari made my wallet. That's pretty much it recently.
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Old 01-23-2013, 11:25 AM   #7
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Atari 2600, now there's a classic.
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