Atari Files for Bankruptcy in US
In an effort to free itself from its French parent company
By Kevin Spak, Newser User
Posted Jan 21, 2013 10:36 AM CST
In this photo provided by Strong National Museum of Play is the Atari video game system inducted into the Toy Hall of Fame in Rochester, N.Y., Thursday Nov. 8, 2007.   (AP Photo/Strong National Museum of Play)

(Newser) – Atari is going bankrupt, but don't worry: It has an extra life. Or at least, that's what Atari Inc., the New York-based part of the legendary video game company, is hoping. It has declared Chapter 11 bankruptcy in an effort to free itself of its French parent company Atari SA, which hasn't turned a profit since 1999, Bloomberg reports. "The Chapter 11 process constitutes the most strategic option for Atari's US operations," the company said in a statement, promising that business would continue as normal.

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Showing 3 of 3 comments
HMD-SMD-ITY
Jan 21, 2013 9:25 PM CST
A fitting death considering they crushed and buried 20 semi truck loads of consoles and game cartridges in El Paso, Tx. They considered them as useless and without value. But you see some of their games at drug stores on those retro consoles that have all the games in firmware inside the machine. I think more relevant for today is the demise of the 3DS XL. My nephew lives in Europe and wanted me to send him a unit with a few games. His birthday is this month so I decided to wait after Christmas to buy one. Now I can't find a new unit. They wiped them off the shelves. They only want to sell the Wii U. Now I'm in limbo waiting to see if I can find a new XL unit anywhere.
right2dave
Jan 21, 2013 11:18 AM CST
An old technology that didn't keep updated.
Isaac Rabinovitch
Jan 21, 2013 10:45 AM CST
Note that this Atari has no real connection with the famous console maker, which basically went out of business 30 years ago. The current Atari bought the brand from Hasbro, who purchased it from JTS, which purchased it from Jack Trammel...