Intent is to break away from French parent company and its debts.
By Tim Colwill on January 21, 2013 at 5:30 pm
Big news just breaking out of the US is that Atari, iconic game publisher and developer, has filed for bankruptcy of its United States arm.
The L.A. Times is reporting that the US arm and its three affiliates filed for bankruptcy in an effort to “break free” from their French parent company, Atari S.A, who are believed to be in debt.
If the bankruptcy filing is successful, Atari’s US arm could emerge free from the debt of its parent company, which would give it a lot more room to stay afloat in an already struggling market.
This isn’t the first time Atari has split, merged, re-formed and evolved: Atari Games, Inc split from Atari in 1984, then merged with JT Storage in the 1990s, was brought by Hasbro in 2001 and then re-named, then re-named again after being acquired by Infogrames. Video games, everybody!