Atari Files For Chapter 11, Plans To Sell Off Logo
Atari Inc. has announced that it has filed for Chapter 11 protection as the company attempts to move away from its parent company, France's Atari S.A. As part of the filing, Atari revealed that it is considering the option of selling off assets including the iconic logo and a variety of classic franchises.
The filing says that Atari plans to make such a move within the next 90-120 days. Its options include selling off the logo and franchises that include Pong, Asteroids, Centipede, Missile Command, Tempest, Test Drive, and Backyard Sports.
Atari has been a pioneer in the video game industry in its 40-year history. Founded by Nolan Bushnell, the company released games such as Pong and Breakout, which were massive successes at bars and fledgling arcades. In recent years it has attempted to cash in on nostalgia, with remakes of Atari 2600 games including Haunted House and Yars Revenge. It has also made a push to break into the app market with virtual recreations of its arcade games.