Thu, Feb 12, 2009 | 17:10 GMT
Midway files for Chapter 11
Midway’s filed for Chapter 11, it’s been confirmed.
“This was a difficult but necessary decision,” said boss Matt Booty.
“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.”
The move is supposed to allow the firm to restructure while essentially being bankrupt.
More through the link.
7 comments
#1
Hunam
12/02/09, 4:55 pm
They just wont die will they?
#2
Retroid
12/02/09, 4:57 pm
/Tries to care
#3
Rock_Me_Amadeus
12/02/09, 5:01 pm
They’re going to struggle to unfuck that
#4
G1GAHURTZ
12/02/09, 5:09 pm
I know some people up in Midway Newcastle. It won’t be a good thing for these guys if they lose their jobs.
Sort it out Midway!
#5
SticKboy
12/02/09, 5:10 pm
What will happen to The Wheelman? That had all the makings of a surprisingly unshit game.
#6
Patrick Garratt
12/02/09, 5:10 pm
It’s all over bar the shouting. There’s no money, and there won’t be any.
#7
Hunam
12/02/09, 5:43 pm
Did you take the money pat?