Atari's U.S. Business Files for Chapter 11 Bankruptcy Protection
In a bit of news sure to upset those who hopped on the videogame train from the very beginning, Atari S.A., the French company that owns the U.S. branch of Atari announced Monday that its U.S. company has filed for Chapter 11 bankruptcy protection and will look to be either selling or restructuring in the future.
Mere hours after this announcement, Atari S.A. also filed for bankruptcy, according to a report by Deadline.
The company said its decision came after Atari’s shareholder/lender, the investment firm BlueBay, found themselves unable to further fund the operation or find anyone who could.
This development marks quite the unceremonious end for a company who once served as a major pioneer in the video game world in the 1970s, with the introduction of gaming console Atari 2600 and games such as Pong, Asteroid and Tank.
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