Atari Files for Bankruptcy

Atari Inc. has filed for bankruptcy and seeks to separate from its French parent holding company, Atari S.A., in order to “secure independent capital for future growth, primarily in the areas of digital and mobile games.”

The company expects to sell most, if not all, of its assets within the next 90-120 days, which include the Atari logo, as well as game titles including Pong, Asteroids, Centipede, Missile Command, Battlezone and Tempest. It is also seeking approval to obtain $5.25 million in debtor-in-possession financing from one or more funds managed by Tenor Capital Management, a firm specializing in convertible arbitrage and special situations.


via press release

Join the Conversation   

* required field

By submitting a comment here you grant GameFront a perpetual license to reproduce your words and name/web site in attribution. Inappropriate or irrelevant comments will be removed at an admin's discretion.

1 Comment on Atari Files for Bankruptcy

R.J.

On January 21, 2013 at 5:35 pm

Not surprising. I’ve been more surprised that the company has limped along for as long as it has.