Atari barely staying afloat, borrows $10 million in credit

26 October 2007

Posted by:Josh

One of the oldest brands in the industry is still alive today and kicking . . . although just barely. Ok and maybe they aren’t kicking. But they are certainly still ticking . . . . ahem.

They already posted a $69.7 million dollar loss (wow what a figure!), considerably cut their workforce and have restructured their board of directors. And now Infogrames Entertainment shareholders BlueBay High Yield Investments has advanced Atari $10 million in credit to keep the company operating through the 2007 holiday season.

And this is piled on top of the already $3 million in outstanding loans being brought by Bluebay Asset Management funds.

Let’s hope Atari has a huge hit game and fast, or they me going down for the count. — Via Kotaku

Categories: News

diane

aww so sad about atari. that was the game system i girst played adn everyone loved it. i still think their games are the best of all and would buy them over the new ones.
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