U.S. units of Atari seek Chapter 11 protection

01/21/2013 | GamesIndustry.biz (U.K.)

Four U.S. subsidiaries of Atari have filed for Chapter 11 protection from creditors. The companies want to become independent of their French parent, Atari SA, which was formerly known as Infogrames. The American companies seek to "secure independent capital for future growth, primarily in the areas of digital and mobile games," they said in a statement. Tenor Capital Management is offering $5.25 million in debtor-in-possession financing to the U.S. units so they can continue their business operations.

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