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Atari Files For Bankruptcy, Could Sell Logo And Franchises
Atari Inc. has officially filed for Chapter 11 protection, better known simply as bankruptcy. According to a report by the L.A. Times, this is an attempt “to break free from their debt-laden French parent,” France’s Atari S.A. In the filing, Atari revealed that it plans to sell off assets, which include its logo and various franchises.
More specifically, Atari plans to do so in the next 90-120 days. As far as franchises, up for sale are Pong, Asteroids, Centipede, Missile Command, Tempest, Test Drive, and Backyard Sports (eww). The US counterpart of Atari has primarily focuses on mobile and digital platforms, and the numbers show. Though showing small profits, Atari Inc. nonetheless took $11 million for the last two fiscal years. What’s interesting is that 17% of Atari’s revenue actually comes from the licensing of its name and logo for “retro” merchandise. Go figure!