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Atari US files for bankruptcy to escape its French captors

Atari Console

Believe it or not, the Atari brand that American’s have known for the last 31 years has been profitable. Their parent company, Atari S.A. (formerly known as Infogrames before it purchased Atari), is a debt-laden French company that has not been as lucky on the balance sheet. As a result, Atari US has filed for bankruptcy in the hopes of breaking away and building their own future as a privately held independent company.

According to the LA Times:

There is evidence that the U.S. operation, which after the sale of other assets now makes up the bulk of Atari S.A.’s business, has been improving. The corporate parent has been profitable for the last two fiscal years, save for the effect of a money-losing French subsidiary, Eden Games, that has been up for sale. Before that, neither Atari S.A. nor Infogrames had been profitable for about a decade.

Atari US believes it has the creativity, the brand strength, and the wherewithal to remain a player in the game of, well, gaming. Their hope is that by filing for bankruptcy, someone will recognize the gem in the rough, buy it on the cheap, and build it back up to prominence and overall profitability. It’s Pong 2.0 that’s at stake here. Who will step up?

 

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