For everyone busy enjoying the summer of 2013 by remembering their childhood, playing with their kids in the sun or doing anything else except reading financial news- you missed something that may put a sad tone on childhood memories. On June 14, 2013 Atari Inc. filed for Chapter 13 bankruptcy in New York.
Since 1999, the company has not made a profit and filed to apparently separate from its unprofitable French holding company and to get hold of independent funding. Atari’s affiliates Humongous Inc. and California U.S. Holdings Inc., are also included in the bankruptcy filing.
Atari’s released statement- “The Chapter 11 process constitutes the most strategic option for Atari’s U.S. operations, as they look to preserve their inherent value and unlock revenue potential unrealized while under the control of Atari SA,” “During this period, the company expects to conduct its normal business operations.”
During 2013 the shares of Atari SA dropped over 50%. All three companies are looking to obtain $5.25 million in funds managed by Tenor Capital Management in New York.
Since 1999, the company has not made a profit and filed to apparently separate from its unprofitable French holding company and to get hold of independent funding. Atari’s affiliates Humongous Inc. and California U.S. Holdings Inc., are also included in the bankruptcy filing.
Atari’s released statement- “The Chapter 11 process constitutes the most strategic option for Atari’s U.S. operations, as they look to preserve their inherent value and unlock revenue potential unrealized while under the control of Atari SA,” “During this period, the company expects to conduct its normal business operations.”
During 2013 the shares of Atari SA dropped over 50%. All three companies are looking to obtain $5.25 million in funds managed by Tenor Capital Management in New York.
Jim Forgotson, owner of the Forgotson Law Firm, wants you to always have stable financial practices.
If you are experiencing financial debt and thinking about filing for chapter 7 bankruptcy or chapter 13 bankruptcy in Oklahoma, you need a professional who will be with you each step of the way.
Forgotson Law Firm
405-703-4567
1230 S.W 89th, Suite A
Oklahoma City, OK 73139
If you are experiencing financial debt and thinking about filing for chapter 7 bankruptcy or chapter 13 bankruptcy in Oklahoma, you need a professional who will be with you each step of the way.
Forgotson Law Firm
405-703-4567
1230 S.W 89th, Suite A
Oklahoma City, OK 73139