Atari Loses Money, Games, Will To Live
November 7, 2007 11:27 am Industry News
Atari, one of the former giants of the video game world, might just be closing up shop…finally.
What’s the story with this 35-year-old company? Where did it all go so wrong? Well…where it started to go wrong is a a long tale indeed, but how they’re messing up in recent times is easy.
They have posted a $70 million loss for the last fiscal year, have fired most of their board, borrowed $10 million (I’d like to shake the hand of the person who thought it was a good idea to loan them the money) and now they’re reporting a $12 million loss for Q1.
Yup, Q1. As in, the one that ended on the last day of June. Apparently, they thought they could delay the inevitable.
They’ve already sold most of their popular franchises, such as Stuntman and Driver. Heck, they might even lose their Dragon Ball Z license.
Shock of shocks, in their quarterly report they state, “substantial doubt about [their] ability to continue as a going concern.”
And you know what? Coming from a guy who bought a Jaguar (I’m still bitter), why delay the inevitable? Fold up shop and go away.