Atari is putting up all of its assets for sale after failing to find a bidder for the entire catalogue, according to a filing at the US Bankruptcy Court.
It's a sad state of affairs for the company, which mirrors the dire situation THQ faced when it sold off all of its assets back in January. Atari is hoping to raise a total of $22.2 million for all of its IP, which includes Rollercoaster Tycoon, Test Drive Racing and Total Annihilation.
The aim of the assets sale is to raise enough money to pay off the debts that Atari currently owes. The publisher filed for bankruptcy protection back in January but received little interest in its back catalogue, with only 15 offers from a pool of 180 buyers. None of the bids put forward were "acceptable" in Atari's view.
The auction is expected to begin in July.
Source: Wall Street Journal (Via GI)
It's a sad state of affairs for the company, which mirrors the dire situation THQ faced when it sold off all of its assets back in January. Atari is hoping to raise a total of $22.2 million for all of its IP, which includes Rollercoaster Tycoon, Test Drive Racing and Total Annihilation.
The aim of the assets sale is to raise enough money to pay off the debts that Atari currently owes. The publisher filed for bankruptcy protection back in January but received little interest in its back catalogue, with only 15 offers from a pool of 180 buyers. None of the bids put forward were "acceptable" in Atari's view.
The auction is expected to begin in July.
Source: Wall Street Journal (Via GI)
Companies:
Atari
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