Video gaming’s oldest brand, Atari, files for bankruptcy
Atari, pioneer of classic video games such as Asteroids, Centipede and Pong, has filed for bankruptcy in the US on the back of declining sales.
The dramatic move by video gaming's oldest brand, famous for its distinctive logo, is heralded by analysts as an opportunity to break free from its parent company, Atari SA (formerly Infogrames), and find a private buyer.
Such a move would allow Atari, founded in 1972, to continue producing games for the tablet and mobile markets.
In a statement Atari said: “The US-based Atari operations seek to separate from the structural financial encumbrances of their French parent holding company, Atari SA ... and secure independent capital for future growth, primarily in the areas of digital and mobile games.
“Within the next 90-120 days, the Companies expect to effectuate a sale of all, or substantially all, of their assets [that include] not only one of the most widely recognised brand logos, which is familiar to 90 per cent of Americans, according to a recent survey, but also legendary game titles including Pong®, Asteroids®, Centipede®, Missile Command®, Battlezone® and Tempest®.”