Yes, Atari is still around. And now the US part of the company, Atari Inc, is looking to break away from its French overlord by filing Chapter 11. This would allow it to sever ties with the unprofitable Atari SA, which was formerly known as Infogrames. Atari Inc, along with Humongous Inc, Atari Interactive Inc, and California US Holdings Inc are looking to secure independent funding through this deal so they can continue to operate.

Atari SA's share price plummeted by 50% last year, which was the last straw for Atari US. Their statement says, "With this move the US-based Atari operations seek to separate from the structural financial encumbrances of their French parent holding company, Atari SA."

Atari US is a mere 40-person operation and they are looking to gather $5.25 million in funding so they can continue to make games. 

"The Chapter 11 process constitutes the most strategic option for Atari's US operations as they look to preserve their inherent value and unlock revenue potential unrealized while under the control of Atari SA," the statement also says.

[Via BBC]

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