Atari Looking To Get Out Of Bankruptcy Protection

Atari Looking To Get Out Of Bankruptcy Protection

Times are pretty rough for the one time video game giant Atari Inc. Mucking around in bankruptcy protection, the company is looking for the court to sign off on the sale of its assets at a minimum of $15 million. Atari and its investment banker Perella Weinberg Partners had been searching for some sort of buyer, but turned up with nothing.

Atari is known for the popular Atari 2600 console from the early 1980s and for having plenty of space themed games. It featured classics including Pong, Centipede, and Asteroids. Atari was one of the primary causes of the U.S video game crash of the 1980s due to roughly anyone being able to make their own game for their consoles thus flooding the market. It would go on to make several unpopular consoles such as the 5200 and the Jaguar—the so called “first 64 gaming console” before calling it quits in the console market in 90s. It continued to hang around the gaming industry in more of a publisher capacity afterwards.

Atari and its French based Atari SA filed for bankruptcy protection earlier in the year.

Starting with Kabir News in 2013, James has focused on tech, gaming, and entertainment. When not writing, he enjoys catching up on sci-fi and horror shows and comics. He can be followed on Twitter @MetalSwift.

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