Publisher Atari’s US Branch Files For Bankruptcy
Over the weekend, the US branch of the iconic video game publisher Atari filed for bankruptcy; a decision that was taken in order to break free from their debt-laden French parent.
LA Times reports that the filing for a Chapter 11 bankruptcy was filed by the US branch and “three of its affiliates” late Sunday night. The firm hopes to find a buyer in the next couple of months as as to privatize the company. If everything goes according to plan, the company hopes to work on digital and mobile platforms.
The 31 year old publisher is known for its financial difficulties that haunted them since the 80’s. Back then the firm suffered a great loss with their release of ET, based on the film of the same name. The game is often categorized as one of the worst releases in history, with millions of unsold copies rumored to have been buried in an Alamogordo, New Mexico landfill.
Late last year THQ, another games publisher and developer filed for bankruptcy. Their assets are currently undergoing terms that will affect the final sale.