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21-01-2013, 09:50 AM #1
Another One Bites The Dust - Atari files for bankruptcy
Should pop up on the main page any minute I guess.
Atari, creator of arcade classics Pong and Asteroids, has filed a petition for bankruptcy.
That's according to a new report by the L.A. Times, which claims that Atari's North American arm has filed the petition in a bid to rid itself of its debt-addled French parent company.
Atari is, globally, not doing very well. Revenues have fallen sharply for two years running, profits have been small and its share price is now worth less than one euro, Polygon reports.
It is this mess that Atari's US division is now trying to flee from - and its parent company's reliance on a London-based credit firm for cash.
Atari US hopes that by filing for bankruptcy it can "break free" and be reborn as a new company, focusing on mobile and digital platforms with little or none of its parent company's debt.
Atari is currently working on a new Pong game with Zynga, plus mobile versions of Rollercoaster Tycoon, Dungeons and Dragons, Centipede: Origins and Outlaw.
http://www.eurogamer.net/articles/20...for-bankruptcy- If the sound of Samuel Barber's "Adagio For Strings" makes you think of Kharak burning instead of the Vietnamese jungle, most of your youth happened during the 90s. -
21-01-2013, 10:58 AM #2
I think Atari already died a couple of times. It has name recognition, so it's probably not going to end up "really" dead for at least another decade or two, even if this restructuring doesn't pan out.
21-01-2013, 11:22 AM #3
So will they be burying a bunch of DVDs or servers in a concrete tomb in a landfill this time?
21-01-2013, 11:31 AM #4
This is so unsurprising, I suspected something was up when the PC port of Test Drive: Ferrari Racing Legends took almost my entire life to show up. Also the last Atari game I've played, Test Drive Unlimited 2, also faced problems (such as Atari fucking over Eden Games) so, yeah. I have been saying for a while that it's insane that THQ was going down the pan yet Atari was still going, not to say I want to see Atari die (because I don't, as that helps no one) but at least THQ published some truly brilliant games.
Also, Centipede: Origins? Is that a joke?
21-01-2013, 11:43 AM #5
21-01-2013, 01:33 PM #6
I think the last time I had anything to do with Atari was when I bought Boiling Point, which they published. Have they done much of anything in PC gaming recently?
21-01-2013, 01:42 PM #7Steam: Gundato
If you want me on either service, I suggest PMing me here first to let me know who you are.
28-01-2013, 09:38 AM #8
- Join Date
- Aug 2012
Atari's time to go has come. They haven't done much good recently. It would good to welcome other developers and studios to take their place.
21-01-2013, 01:46 PM #9
The Blade runner curse cannot be escaped. Expect no product placement in the sequel.Why yes you're right I'm deliciously evil
Tradition is the tyranny of dead men
Steam:Kadayi Origin: Kadayi GFWL: Kadayi
*blush* I'm flattered by the attention boys, but please let's not make the thread about liddle old me
Persons of disinterest: Nalano, deano2099
21-01-2013, 03:01 PM #10
21-01-2013, 03:35 PM #11
So this is the firm Steve Jobs once worked for, the unhappy experience made him despise game console business...... at least that's the rumor.
So seriously, what's the loss to the industry? Not to mention that it's just a set back. It's very unlikely this firm will die anyway.
This brand is only memorable to old guys, really.
21-01-2013, 06:21 PM #12
21-01-2013, 08:25 PM #13
21-01-2013, 04:02 PM #14
They'll probably find another buyer and the cycle will continue.Virtual Pilot 3D™ NEVER NOT SCAM!
21-01-2013, 09:24 PM #15
- Join Date
- Oct 2011
Hopefully Eden Studios (or what's left of it) will be picked up by someone else who are not complete idiots
26-01-2013, 09:56 AM #16
Atari as a game maker became unimportant long ago but the name still carries a lot of weight. Somebody will probably use that name eventually although original people are long gone from the company.
26-01-2013, 01:34 PM #17
- Join Date
- May 2012
"Atari is currently working on a new Pong game with Zynga"
That sounds like everything wrong with the industry right now. I don't think there is a single word in that sentence that would be termed "good". :P
29-01-2013, 07:12 AM #18
28-01-2013, 08:08 PM #19
Honestly didn't know they were still trading. They'll probably enter an Amiga-name-like undeath, being passed around desperate companies like cheap cigarettes in a prison yard. Can't say I have any feelings about it either way, really.
28-01-2013, 09:52 PM #20
Atari has done this before.
File for bankruptcy and sell everything off. The 'brand' goes somewhere, whilst the developing and publishing side of things falls.
Bankruptcy frees you from some debts:
Developers do not get the money the money they have been contracted for if it's due in future payments. Which means small developers published through Atari may have made games they'll never be paid for. This can ruin small devs.
Everything is sold off, but none of that goes to employees. Instead, employees are sacked without redundancy.
Top managerial staff will simply move on, or maybe just stay with whatever Atari becomes. Shareholders do fine: They get a lot of cash from the sale of the brand.
This will be the third time Atari's done this. It's an absolutely disgusting practice. Deliberately taking on debt they cannot meet under the safe knowledge that they can fuck over employees and contractors because the money to be made from the brand will save the shareholders.Originally Posted by CROCONOUGHTKEY