Atari’s U.S. operation filed for bankruptcy in New York late Sunday, the Los Angeles Times reported. The pioneering, three-decade-old video game company behind “Pong,” and “Asteroids” has struggled to turn a profit in recent years and may be sold off to new buyers as a whole or in parts, the Los Angeles Times noted. Since 2000, Atari has been owned by a French company formerly known as Infogrames (which changed its name to Atari S.A.) and relies on a London firm called BlueBay Asset Management for cash flow.
Updated, 4 p.m. EST: Fortune/CNN Money notes that that the bankruptcy filing is actually just part of Atari U.S.’s plans to detatch from its corporate overloads in Europe and become an independent American company again, and that it will “conduct normal business operations” during the bankruptcy procedure.
