Atari US files for bankruptcy

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There are few game developers on the market these days that have a legacy that lasts beyond a few years. Studios come and go, and last year saw no shortage of developers being forced to close shop. One such prolific developer happens to be Atari. From it’s time as a console giant in an emerging market, to the days it was forced to look towards a new direction developing only games, Atari has been through the best and worst times that the industry could possibly throw at it. And the times they are a changin’, but not for the better, as Atari US has had to file for Chapter 11 bankruptcy.

The North American arm of the legendary brand is looking to emancipate itself from its French parent company, who happens to have more debt than Lindsay Lohan. And probably just as much alcohol hidden in the staff fridge. According to the LA Times via CVG, Atari US is looking for a buyer right now that will turn the company into a private developer of digital and mobile games. Even though Atari US had made some scratch to the tune of $15 million over the last two years, a fiscal drop of 43% in revenue and a further 34% in 2012 has dealt a severe blow to the company.

Currently, Atari has a stock value of less than 1 Euro a share, a steep drop from the 11 Euros per share that they were demanding back in 2008. Still, if things go according to plan, Atari US could emerge relatively unscathed, with all it’s resources and far less debt, before they focus their efforts on smaller games on a larger market.

It’s not an ideal situation, but Atari has a reputation for surviving. If this is the path that they need to follow, then so be it, because it’d be a shame if the storied history of Atari had to end with a game such as Ghostbusters: Sanctum of Slime

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Author:Darryn Bonthuys

Because he's the writer that Lazygamer deserves, but not the one it actually needs right now. So we'll hunt him. Because he can't take it. Because he's not a hero. He's a loud-mouthed journalist, a watchful procrastinator. A dork knight.

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