More Reviews
REVIEWS Satellite Reign Review
A spiritual successor to Syndicate Wars that more than lives up to its legacy.

Disney Infinity 3.0 Review
Disney Infinity 3.0 offers the first real taste of new Star Wars gaming content since the franchise was purchased by the Disney Corporation. This begs the question: Is it Han Sololicious? Or Jar Jar Bombad?
More Previews
PREVIEWS Hob Preview
If I had to describe Hob in a simple title it would be "Darksiders Jr." The title from Runic developers, whose prior games are the Torchlight series, were nervous about delivering a game that is so far from their comfort zone.
Release Dates
NEW RELEASES Metal Gear Solid V: The Phantom Pain
Release date: Out Now

Destiny: The Taken King
Release date: 09/15/15

Skylanders SuperChargers
Release date: 09/20/15

LEGO Dimensions
Release date: 09/27/15


LEADERBOARD
Read More Member Blogs
FEATURED VOXPOP Ivory_Soul
Windows 10 Review for Dummies
By Ivory_Soul
Posted on 08/11/15
After all these years, and growing up with Windows 3.1, I have seen an entire evolution of computers and software. Touch screens and large resolutions were a pipe dream just 15 years ago. Now it's the norm. Going from a Packard Bell (yes, before HP) that couldn't run 3D Ultra Mini...

GAMING NEWS

Atari Files Chapter 11 Bankruptcy

Posted on Monday, January 21 @ 07:55:00 PST by Keri_Honea

Atari has indeed filed for Chapter 11 bankruptcy, but its reasons for doing so aren't as dire as they seem. Atari Inc. and three of its affiliates filed for Chapter 11 reorganization as a method to break the American-based business away from its French parent, Atari S.A. They also hope to find a buyer in the next few months to make the company private. According to the LA Times, their plan is to grow a "modest business focused on digital and mobile platforms."

Atari itself has been steeped in financial troubles for several decades. Atari in the US has slowly been improving over the last few years, mostly thinaks to developing an Atari "greatest hits" compliation for smart phones and the web. The French parent has also been steadily improving over the last couple years, but hasn't been largely profitable due to its subsidiary, Eden Games, which has been up for sale and continually loses money.

What has really killed Atari's profitability is its practically complete reliance upon a London financial company, BlueBay Asset Management, for liquid assets. On December 31st, a $28-million credit with BlueBay lapsed, which halted Atari's work on releasing games currently in progress.

As part of Atari Inc's reorganization plan, it has secured a commitement for $5.25 million in debtor-in-possession financing in order to continue operations and release these games. As soon as the Chapter 11 is complete, and assuming it is successful, Atari Inc. could walk away with little to no debt owed to BlueBay. As a result, Atari's businesses in France would either hunt down a buyer or dissolve altogether.
Tags:   Atari
FOLLOW ME ON TWITTER. YOU KNOW YOU WANT TO.


More from the Game Revolution Network




comments powered by Disqus

More On GameRevolution