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Classic Video Game Giant, Atari, Files For Chapter 11 Bankruptcy

Classic Video Game Giant, Atari, Files For Chapter 11 Bankruptcy

Posted By Marshall Schultz || 8-Feb-2013

Atari, the video game giant responsible for classic video games like Pong and Asteroids, recently announced it has filed for Chapter 11 bankruptcy. According to reports, filing for bankruptcy was simply one aspect of an overall plan to split from parent company, Infogrames, which merged with Atari back in 2008. The end game, so to speak, is to allow Atari to operate independently and pursue a digital/mobile market, rather than the home console market which made them a household name back in the '80s. News sources suggest the separation, and move into the mobile games arena, came about after Atari netted profits in both 2011 and 2012, whereas the firm had been unprofitable for almost 10 years prior. As part of the bankruptcy proceedings, Atari will begin selling off its assets over the next few months.

If you are considering filing for bankruptcy, or you have wondered if filing for bankruptcy is the right solution for you, we advise you contact our firm and consult with one of our knowledgeable bankruptcy attorneys. We have successfully helped more than 10,000 individuals file for bankruptcy, so we understand that financial situations can change, and we know that even those who were able to pay all their bills before may find themselves unable to make payments now. The stress of mounting bills can not only weigh heavily on you, as an individual, but has an impact on your family life and general well-being. The longer your bills go unpaid, the higher the likelihood that you will be dealing with endless creditor calls, letters from collection agencies, repossession, lawsuits, foreclosure, and bankruptcy. While there are alternatives to bankruptcy, we recommend you seek counsel from a skilled Detroit bankruptcy attorney as soon as possible, so that we can advise you of your legal rights and help you make an informed decision as to how to protect your interests, and get out from under your debt.

Do not put your financial future at risk. Filing for bankruptcy may be able to give you the fresh start you deserve. Contact the Law Offices of Marshall D. Schultz and schedule a confidential consultation and review of your finances today.

Categories: Bankruptcy, Chapter 11

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