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Atari Seeks Emancipation from French Parent with Bankruptcy Filing
Dan
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Brisbane, Queensland
14023 posts
The US companies operating under the Atari name have collectively filed for Chapter 11 bankruptcy protection in New York, which according to a press release is a strategic movement to detach them from their floundering European parent company Atari SA.
The chapter 11 process constitutes the most strategic option for Atari's US operations, as they look to preserve their inherent value and unlock revenue potential unrealized while under the control of Atari SA. During this period, the company expects to conduct its normal business operations.
The poor performance of Atari SA, the French game publisher formerly known as Infogrames, has reportedly hampered Atari's US operations with flailing value on the French stock market, despite the recent successes Atari Inc has had with their arcade classics on mobile platforms.
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