Atari Inc., the U.S. subsidiary of Atari SA, has filed for Chapter 11 bankruptcy to allow the company to restructure its debts and hopefully separate itself from its parent company.
For those wondering why there's an Atari Inc. and an Atari SA, here's a quick history lesson. Back in 2001, French software company Infrogrames purchased Hasbro Interactive which also meant they bought the rights to Atari name and games as the company that pioneered gaming had already been dead for some years. After the purchase, Infogrames began rebranding itself using the Atari name.
Atari Inc., while doing well for itself, is still being weighted down by Atari SA's business which has been losing money overall. If they can find a buyer, Atari Inc. could finally be an independent publisher for the first time since the end of the Atari Jaguar.
Source: LA Times