The company that seems to have been around forever appears to be in trouble. From classic hits Asteroids and Centipede, could Atari's time be just about up?
The iconic video game company, Atari, has filed for Bankruptcy today. It seems to be a trend in the video game business as of late and this is one of those trends you don’t want to be a part of. It appears that the reason Atari is doing this is to separate from their French parent company. It looks like most companies that function within Atari, or with the Atari name, will be sold as well. “With this move, the U.S.-based Atari operations seek to separate from the structural financial encumbrances of their French parent holding company, Atari S.A. (formerly Infogrames S.A.) and secure independent capital for future growth, primarily in the areas of digital and mobile games,” the company said in a press release.
It looks like Atari is selling all of its assets in the coming months. This would be covered under section 363 of the bankruptcy code. Assets look to include the Atari logo as well as classic Atari games like Asteroids and Centipede. The company has changed it focus to from retail to digital games.