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Atari Files for Bankruptcy

Atari US, an iconic game publisher, has filed for Chapter 11 bankruptcy in order to separate from its French parent company, Atari SA, previously known as Infogrames.

ShackNews reports that because Atari US wants to move away from Atari SA, it means they will end up selling off its logo and many of the classic titles that are known to be associated with Atari like Pong, Centipede and Asteroids.

The reason for doing so is that the US branch of Atari would like to separate itself from an unprofitable parent company in Atari SA. If the bankruptcy filing is successful, it means that the US branch of Atari could become debt free from its parent company which means that it will be given a bit more room to stay afloat in the market.

Either way, it is very sad news indeed.