Midway Games files for bankruptcy

Midway Games files for bankruptcy

Andrew Lyle on 13 February 2009 - 01:05 · 18 comments & 5253 views

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On Thursday, Midway Games filed for a chapter 11 bankruptcy, which means it will still plans to stay in operations and not liquidate its stock, to ward off creditors. The company is unlikely to pay off the $281 million debt it has occurred over the years. The filing came the same day Square Enix Co., a company based in Tokyo, Japan, known for Final Fantasy, offered to buy Britain's Eidos Interactive, possibly influencing the company to file.

Midway Games has been looking for a buyer for the company but has yet to find any purchaser, and will be allowed to file for a chapter 11. Midway joins a growing number of video game companies feeling the pinch of the recession, while being a once popular video game brand name. The company is known for popular arcade and console games like Mortal Kombat, Doom 64, NHL Hitz, San Francisco Rush, Game Party, TNA iMPACT and many others.

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#1 Marshalus on 13 Feb 2009 - 02:03

They've really not made many interesting games in the last few years, so I'm not surprised. I remember when they use to be one of THE gaming companies... not so much these days

#2 scaramonga on 13 Feb 2009 - 02:12

Sad news indeed

#3 Shiranui on 13 Feb 2009 - 03:26

Well NARC was fun i suppose.

GANJA BONUS!

(2 replies) #4 Mav Phoenix on 13 Feb 2009 - 04:42

I really only ever remember them making ports during the N64 days and nothing of real value in the last 5+years.

#4.1 Eis on 13 Feb 2009 - 04:51

Really? I thought Unreal Tournament 3 was a pretty good game...

#4.2 clotz2000 on 13 Feb 2009 - 06:33

Epic & Digital Extremes developed Unreal Tournament, Midway is most known for the Mortal Kombat series...

#5 qdave on 13 Feb 2009 - 06:03

oh no. they used to make good games long time ago.

#6 sorlag on 13 Feb 2009 - 07:05

Midway died after the snes mortal kombat aera...

(1 reply) #7 nonick on 13 Feb 2009 - 08:52

So..... blame piracy?

#7.1 Magallanes on 13 Feb 2009 - 12:17

Mortal Kombat vs DC Universe was anything but "mortal".

#8 xpclient on 13 Feb 2009 - 10:06

Are any casual game companies dying because of the recession? All hardcore gaming ones seem to be hit more.

#9 spacer on 13 Feb 2009 - 12:56

Finally no more crappy MK games.

#10 Airlink on 13 Feb 2009 - 16:58

Wait... Midway was still in buisness? :|

#11 PGHammer on 13 Feb 2009 - 20:46

The MK series was primarily console-oriented (and only the first four were on PC, and all were console ports, and Midway only *published* the last two of those). The first two were ported by Probe Entertainment (who would later become known for Forsaken), who would later be purchased by, and be taken into Chapter 7 with, Acclaim Entertainment. What wrecked Midway was the spinoff of their coin-operated games division (now pretty much dead) and their gaming division (slot machines, which is still profitable), forcing the rest of the company to sink or swim on its own.

#12 +what on 14 Feb 2009 - 15:59

Should have happened way back when they released Hour of Victory. Good god that was bad.

#13 addc182 on 14 Feb 2009 - 20:37

no moar spyhunter?

#14 lylesback2 on 16 Feb 2009 - 05:53

they filed for a chapter 11 not a chapter 4 whichs means they plan to stay in operation

#15 Xeta on 17 Feb 2009 - 19:28

Hrmm, that's too bad I suppose. They were great a few years back. But I haven't seen anything great from them since. I remember playing San Fransisco Rush for hours on end on the N64.

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Midway Games files for bankruptcy

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