Atari Inc. and three affiliates file for Chapter 11 Bankruptcy on January 20, 2013
Atari Inc., known for “Pong” and “Asteroids” filed for Chapter 11, 2013 among decades of financial problems. It has been affiliated with the French company Infogrames, which changed its name to Atari S.A. in 2003. The U.S. operations have filed for bankruptcy presumably shield itself and three of its affiliates from the challenges faced by its French parent company.
In a press release it states, “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.”
Atari, Inc., Atari Interactive, Inc., California U.S. Holdings, Inc. and Humongous, Inc. filed for Chapter 11 under Case Nos. 13-10176,13-10177, 13-10178 , and 13-10179, respectively in the United States Bankruptcy Court for the Southern District of New York. The case will likely be jointly administered under Case No. 13-10176.