Midway Games Files for Bankruptcy
A shocking and pretty sad situation for gamers who enjoyed the Mortal Kombat series, no more brand new "Get Over Here!", at least for a little while now. This is due to Midway the company famous for the Mortal Kombat series has just filed for bankruptcy in order to keep its operations going as it seeks a potential restructuring plan.
"This was a difficult but necessary decision," Midway CEO Matt Booty said in a statement of the bankruptcy filing.
"We have been focused on realigning our operations and improving our execution, and this filing will relieve the immediate pressure from our creditors and provide us time for an orderly exploration of our strategic alternatives. This Chapter 11 filing is the next logical step in an ongoing process to address our capital structure."
As a cost saving mechanism Midway has already laid off 25% of its staff, closed its studio in Texas and suspended several projects in December.
Apparently the good news for Midway fans however is that Midway international will resume its operations normally and is not being affected by the bankruptcy filling in the United States